Full text of G.20 Finance Companies : October 4, 1972
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F E D E R A L R Statistical- E S E R V E re l e a s e .... G.20 " 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. . Q5 < G.20 -2- 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