Full text of G.20 Finance Companies : October 4, 1971

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FEDERAL RESERVE
s t a t i s t i c a l

r e

I e a

G;20

A!

s e

October 4, 1971
FINANCE COMPANIES AUGUST 1971

The holdings of consumer instalment paper by fin a:
nee companies rose
$192 million during August bringing the total holdings-,to ov r $31 billion. This
increase was reflected in all of the major categories df cons umer credit.
Total consumer credit extensions of $2.7"brllion in August were
$62 million less than the amount extended in July. Extensi-oii of personal loans increased $59 million over last month but the extensions of th other credit categories
showed declines.
Total business credit extensions and outstandingjs at finance companies
declined from July to August. Outstandings of wholesale automotive paper and other
business credit continued to decline reducing the total outs tandings to $19.7 b i l l i o n —
the lowest since January. Total extensions for August were reduced to $4.0 billion
mainly because of a seasonal drop in extensions of wholesale automotive paper from July.
The number of motor vehicles financed by finance companies declined 16,000
units during August. A decline occurred in each of the thre e categories, the largest
being in new passenger cars.
Outstanding Credit Held by Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit

August 31,
1971

10,077

Other consumer goods
- ::
Home repair and modernization™' 1
Personal loans

6,249
. 103
14,669

Retail automotive (commercial
vehicles)
Wholesale automotive
Other business credit

-490
-655

4

30

-280
9
436

T
-

131

19,688

3,061
4,401
.12,226

II
-39

192

31,098

Retail automotive (passenger cars)

Business credit 1/

Increase or decrease during:
Aug.
Year ending
Aug
1970
Aug. 31, 1971
1971

1
l,0lf
-

2

38

Not available at
present due to
revisions in
reporting

6

^./Excludes some credit extended to business, such as that e:ctended by factoring
subsidiaries.




Credit Extended by Finance Companies
(In millions of dollars)
Aug. 31,
1971

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
-

New
Used
Other consumer goods
Home repair and modernization
Personal loans

Business credit 1/ .
Retail automotive (commercial vehicles)

I

Change from:
Month ago

Year ago

2,729

- 62

313

741

-_62

101

534
207

- 53
- 9

458
5
1,525

- 58
1
59

2
3
207

-844

Not available
at present

4,007
182

• -

.

1

Wholesale automotive paper

1,342

-877

Other business credit

2,483

34

2/
- 2/

revisions
in reporting

_L/Excludes some credit extended to business, such as that extended by factoring
subsidiaries.
2/Not available due to revisions in reporting.

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

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




• August 31, 1971

301
148
111
42 -