Full text of G.20 Finance Companies : October 4, 1972

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G.20

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October 4, 1972

FINANCE COMPANIES
AUGUST 1972

Holdings of consumer instalment paper by finance companies rose $385
million in August bringing the total outstandings to over.$34 billion. This was
the sixth consecutive month in which all of the major catejgoi ies of consumer
credit showed growth in outstandings.
Credit extended to consumers in August was $168 m i l l i o n higher than
in July.
Only home repair and modernization extensions w e r e less than in the
previous m o n t h .
Total business credit outstanding declined from July to August.
The
decline in wholesale automotive outstandings offset growth in the other major
categories. W h o l e s a l e automotive extensions w e r e lower than in July and accounted
for.smaller total extensions of business credit in August.
The total number of motor vehicles financed by finance companies
increased 8,000 units in August. W h i l e the number of new and used passenger
vehicles rose 11,000 units, the number of new and used commer cial vehicles fell
3,000 units.
Outstanding Credit Held by Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive

(passenger cars)

Other consumer goods
Home repair and m o d e r n i z a t i o n
Personal loans
Business credit 1/ R e t a i l automotive (commercial
vehicles)
W h o l e s a l e automotive
Other business credit
1/
~

August 31,
, 1972

Increase or decrease during
August
August
August 31,
:
1972
1971
1972

34,208

385

192

,11,073

. 99

40

7,047
118
•15,970

111
1
174

19
2
131

19,888

•1,401

3,363
3,341
13,184

30
•1,587
156

Not available at
present due to
.revisions in
reporting

Excludes some credit extended to business, such as that extended by factoring
subsidiaries. .




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G.20

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Credit Extended by Finance Companies
(In millions of dollars)

August
1972

Type of credit
Consumer instalment 'credit
Retail automotive (passenger cars)
New"
Used
Other consumer goodsHome repair and modernization
Personal loans

-"""

Business credit 1/
Retail automotive (commercial vehicles) '

Change from:
Year ago
Month ago

3,008

168

279

830

14

89

619
211

6
8

n!a.'

655
4 :
1,519
4,172.

8
-2
148
-808

201

Wholesale automotive paper

1,048

-918

Other business credit

2,923

110

Xl

197
-1
-6
Not available
at present
due to
revisions
in reporting

Excludes some credit extended to business, such as that extended by factoring
subsidiaries.
n.a. - Not available.
*
Less than 0.5 million dollars„

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 1972
321
168
110
43