Full text of G.20 Finance Companies : November 3, 1971

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November 3, 1971

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FINANCE COMPANIES
SEPTEMBER 1971

Holdings of consumer instalment paper by-finance :ompanies continued to
rise during September bringing the total amount outstanding t more than $31.1 billion;
the highest since October 1970. The $35 million increase from August was centered in
two of the major types of c r e d i t — o t h e r consumer goods and p e n sonal loans registered
gains of $19 million and $15 million, respectively.
Total credit extended to consumers in September w;
M S $2.5 billion-$180 million less than the amount extended in A u g u s t . Extens ions of other consumer
goods credit rose slightly for the month but there were decli tes in the remaining categories. Passenger car extensions and personal loan extension^ showed the largest decreases, $38 million and $146 million respectively.
Total business credit outstanding, of finance compelnies and total extensions
of business credit rose substantially from August to Septembe
Outstandings of wholesale automotive credit increased $656 million and extensions
ose $1.8 billion, refleeting a seasonal rise in financing dealer inventories of 1^ 72 models
The number of motor vehicles financed at retail by finance companies
declined from August to September fby 24,000. units. Reduction;; occurred in each of the
'three categories, the largest being in used passenger cars
Outstanding Credit Held by Finance Comfj,
(In millions of dollars)

September 30,
. 1971

Type of credit

Consumer instalment credit
Retail automotive

31,133

(passenger cars)

Other consumer goods
Hcjme- repair and modernization
Personal loans
Business credit 1/
Retail automotive

(commercial
vehicles)

Wholesale automotive
Other business credit

i

10,077
6,268
104
14,684

. Incres se or decrease during:
Sept.
Sept.
Year ending
1971
. 1970
Sept. 30, 1971
35
*
19
1
15

20,380

.692

3,061
5,057
12,262

656
36

- 78

-377

-113

-542

39
-

4

-

-300
10
455

. Not'available at
present due to
revisions in
reporting
•
:

^/Excludes some credit extended to business, such as that extended by factoring
subsidiaries .
* Less than 0.5 million dollars.




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G.20

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r

-2Credit Extended by Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit

Month ago

2,549 .

- 180

703

Retail automotive, (passenger cars)

526^
177

New
Used

463
4
l.,379

' Other consumer goods
Home: repair and modernization
Personal loans
Business credit 1/
Retail automotive (commercial vehicles)
Wholesale automotive paper
.Other business credit

Change

Sept. 30,.
1971

249
125

I

-

8
3°

N.A.
N.A.

!•5

i

• |
j

.

11
2
111

i
146

2,100

j

153

Year ago

!-

6,107
J

•

-

Not available
at present

29

revisions
in reporting

3,183

1,841

2,771

288

^/Excludes some credit extended to business., such as that extended by factoring
subsidiaries.
N.A. Not- available.

Number of Motor Vehicles Financed by Finance Companies
(In thousands) •

September 30, .1971

Type of vehicle

277

Total financed at retail
New passenger
Used passenger
New and used commercial




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145
96

36'

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