Full text of G.20 Sales Finance Companies : April 4, 1956

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
A p r i l k, 1956

G.20
SALES FINANCE COMPANIES

/-

FEBRUARY 1956

e

W

r

S a l e s f i n a n c e company holdings of i n s t a l m e n t paper on
passenger c a r s i n c r e a s e d |2li m i l l i o n during February a f t e r showing
no change during the preceding month. Balances a t the end of the month
amounted t o an estimated $>7,963 m i l l i o n , $2,25U m i l l i o n above a y e a r
e a r l i e r . Total consumer c r e d i t held by s a l e s f i n a n c e companies was
estimated a t $8,96k m i l l i o n a t the end of February.
The volume of c r e d i t extended on passenger c a r s i n c r e a s e d
$21 m i l l i o n over J a n u a r y ' s volume t o an estimated $65L m i l l i o n i n
February, r e f l e c t i n g i n c r e a s e s f o r both new and used c a r s . Compared
with a y e a r ago, volume was up $53 m i l l i o n . F e b r u a r y ' s volume r e p r e sented the f i n a n c i n g of about 180 thousand new c a r s and about 231
thousand used c a r s .
Wholesale automotive c r e d i t outstanding amounted t o an e s timated $ l , 7 l 7 m i l l i o n a t the end of February, $83 m i l l i o n above a
month ago and $707 m i l l i o n above a y e a r ago. Other types of b u s i n e s s
c r e d i t o u t s t a n d i n g a l s o i n c r e a s e d during the month.

Outstanding C r e d i t Held by S a l e s Finance Companies
(In m i l l i o n s of d o l l a r s )
•—

1

Type of c r e d i t

A

r

!

Feb. 29,
1956

Increase or decrease during:
Year ended
Feb.
: Feb.
j
Feb. 29, 1956
1955
1956

Consumer i n s t a l m e n t c r e d i t
R e t a i l automotive (passenger c a r s )
Other consumer goods paper
Repair and modernization l o a n s
Personal l o a n s

8,961
7,963
U12
83
506

+ 28
+ 2h
0
- 1
+ 5

+108
+106
- 1
- 1
+ h

+2.39U
+2,25k
+
63
+
5
+
72

Business c r e d i t 1 /
R e t a i l automotive (commercial v e h i c l e s )
Wholesale automotive
Wholesale o t h e r than automotive
Other b u s i n e s s c r e d i t

2,671
U37
1,7U7
80
UlO

+110
+ 2
+ 83
+ lb
+ 11

+179
0
+169
+ 17
- 7

+ 900
+
92
+ 707
+
2h
+
77

1

!

1 / Excludes some c r e d i t extended t o b u s i n e s s , such as c r e d i t a r i s i n g from
factoring operations.



-

G.20

2 -

C r e d i t Extended by Sales Finance Companies
(In m i l l i o n s of d o l l a r s )

Feb.
1956

Type of c r e d i t
Consumer i n s t a l m e n t c r e d i t
R e t a i l automotive (passenger c a r s )
New
Used

759
65U
117
237

Other consumer goods paper
Repair and modernization loans
Personal l o a n s
Business c r e d i t 1 /
R e t a i l automotive (commercial v e h i c l e s
New
Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale o t h e r than automotive
Other b u s i n e s s c r e d i t 1 /

!

Change from:
Year
Month
ago
agn .
+
+
+
+

23
21
5
16

+
+
+
+

66
53
U9
ii

35
k
66

0
0
+ 2

+ 3
+ 1
+ 9

1,236
33
23
10

- 57
- k
- U
0

+ 75
+ 3
+ 3
0

1,072
1.019
53

- 62
- 63
+ 1

+ kk
:

+
+

+ 3
+ 25

3U
97

6
3

3

i

Number of Motor Vehicles Financed by S a l e s Finance Companies
(In thousands)

Feb.
1956

Change from:
Year
Month
ago
ago

Total f i n a n c e d by r e t a i l
New passenger
Used passenger
New commercial
Used commercial

U37
180
231
13
13

+ 10
+ 1
+ 12
' - 2
- 1

Total f i n a n c e d a t wholesale
New (passenger and commercial)
Used (passenger and commercial)

bSk
hio
kk

- 19
- 22
+ 3

Type of v e h i c l e

- 3
+ 5™
-

7
0
1

+

2

- k
+ 6

I / - Excludes some c r e d i t extended t o b u s i n e s s , such a s c r e d i t a r i s i n g
from f a c t o r i n g o p e r a t i o n s .