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ESERVE
release

FEDERAL

! .-isi£r?s&-

s t a t i s t i c a l
'••f^LRtsv:

September 3, 1971
\

FINANCE COMPANIES
JULY 1971

Holdings of consumer instalment paper by finance companies continued to
increase during July bringing the total amount outstanding
o $30.9 billion. Three
major categories of consumer credit contributed to this ris
The increases in
passenger car paper and personal loans outstanding reflected declines in repayments
from June levels that exceeded reductions in extensions.
Total credit extended to consumers*in July was $2.8 b i l l i o n — $ 4 1 million :
less than the amount extended in June. Extensions of nonaultomotive consumer goods and
home repair and modernization were up $45 million for the miicjmth but declines in
passenger car and personal loan paper more than offset this increase.
Total business credit outstanding at finance coiiijipanies and total extensions
of.business credit declined from June to- July. Outstandings; of wholesale automotive
paper and other business credit fell $364 million and $109 j illion, respectively,
reducing the total outstandings to approximately $20.8 bill on. Extensions for July
were only $4.9 billion. Primarily because of model change civer extensions of commercial vehicles and wholesale automotive credit were reduc^i:d to $11 million and
$858 million respectively.
The number of motor vehicles financed by finance
July by 19,000 units. Part of this decline occurred in each

companies declined in
of the three /categories.

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 modernization
Personal loans
Business credit 1/
Retail automotive

(commercial
vehicles)

Wholesale automotive
Other business credit

July 31,
1971

rea&e or decrease during:
July
Year ending
Ju ly
1970
July-31, 1971
197
-301

30,906
10,037

6,230

.

6

• 101
14,538

17T

20,756

-437.

3,049
5,420
12,287

-364

-655

-302

-734

- 61

-269
5
343

-

2

64

Not available at
present due to
revisions -in
reporting

1/Excludes some credit extended to business, such as that exi ended by factoring
subsidiaries .
-•
2/Less than 0.5 million dollars.




G.20
Credit Extended b.y Finance Companies
(In millions of dollars)

Consumer instalment credit
- Retail automotive (passenger cars)
New
Used •

•

'

'Retail automotive (commercial vehicles)

.
,

Year ago

2,791

- 41

60

803

- 47

-11

587
216

Other consumer goods
Home repair and modernization
Personal loans
Business•credit 1/

Change
Month ago |

July 31,
1971

Type of credit

516
6
1,466
4,851 •

. j . 183

.
. i

%

- 29
- 18
44
1
- - 39
'-572
-

11

Wholesale automotive paper

i
j

2,219

-858

Other business credit

j

2,449

297

-

-19
4
86
Not available
at present
revisions
in reporting

- i
V E x c l u d e s some credit extended to business, such as that extended by factoring
• subsidiaries.
r _2/Less "than .0 .5 million dollars .
3/Not available due to revisions in reporting.

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

July 1971

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




160
113
44