Full text of G.20 Sales Finance Companies : April 5, 1960

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
A p r i l 5, I960

G«20
SALES FINANCE COMPANIES
February i960

LIBRA R \

R e c a l l passenger c a r i n s t a l m e n t paper h e l d by s a l e s f i n a n c e
coripnnies i n c r e ased $37 m i l l i o n during February to $7,3^2 n i l l i o n a t
the end of the month. The i n c r e a s e compares with p r a c t i c a l l y no
Change a y e a r ago and a d e c l i n e of $126 m i l l i o n i n 1958. T o t a l o u t s t a n d i n g consumer i n s t a l m e n t c r e d i t a t s a l e s f i n a n c e companies was
#10,276 m i l l i o n , $1,552 m i l l i o n h i g h e r than a y e a r ago.
C r e d i t extended on new passenger c a r s i n c r e a s e d $5U m i l l i o n from January and c r e d i t extended f o r purchase of used c a r s
i n c r e a s e d §23 m i l l i o n . New passenger c a r s f i n a n c e d by s a l e s f i n a n c e
companies amounted to 133 thousand and used passenger 210 thousand.
Wholesale automotive paper o u t s t a n d i n g i n c r e a s e d $3h2 m i l l i o n during February as 611 thousand c a r s were financed during t h e
month. A l l o t h e r types of business c r e d i t o u t s t a n d i n g i n c r e a s e d
slightly.
Outstanding C r e d i t Held by Sales Finance Companies
( I n m i l l i o n s of d o l l a r s )

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 cars)
Other consumer goods paper
Repair and modernization loans
Personal loans
Business c r e d i t 1 /

10,276

I n c r e a s e o r decrease during:
Year ended
Feb, Feb.
I960 1959 Feb. 29, I960
+ 108

-

9

7,312
1,982
37
91$

+ 37 + 3
+ 60
- 18
+ 1
0
+ 10 + 6

3,663

579
1,867
15U
1,063

+ 1,552
+

918

+

h3h

+
+

18
152

+ 387 +167

+

7h7

+ 3 + 3l2
+ 10 +
+ 32 +

+
+

120
31b

2
CO

*

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 business c r e d i t

Fob. 29,
I960

5
6

+

hO

+

273

extended by
factoring subsidiaries.




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Gr. 20
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- 2 .

:

'

C r e d i t Extended.1 by Sales Finance .Companies
/
( i n m i l l i o n s O'f d o l l a r s )

• Type of c r e d i t

::

r
. | Change froz!"' •'
. ' Feb,
Year*
Month
ago.
I960
a«o

Consumer i n s t a l m e n t c r e d i t
' f i e t a i l automotive (passenger cars)
:
New'
' ' '
Used
.
.
,
;

:I
::

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

:

a.

-

'• •

+15

+ 77
+""61 •

+

+

23

•3
110

+

66V.

+214
+ 9
+1
t .1.

#
;. 13

'

t J l

rv 25
0

158

1

1.408
.1.321

Wholesale automotive paper ' .!
New (passenger and commercial) ..
. Used ( p a s s e n g e r and commercial)

1

;

243

Other consumer goods paper
Repair arid modernization loans
Personal loans

Wholesale o t h e r than automotive
Other b u s i n e s s ' c r e d i t l /

m i

• •860

87

49
155

"•

6.

16

+ 45'
r. '' 1
.. + 1 6 .
+398
+ 10
+ 9
+ 1

+168
+344
+155 , +339
+"13'*.|
+ 11
+

26

+ 12
+ 32

•.'
1 / Excludes some.credit extended to b u s i n e s s , such as t h a t
. extended by f a c t o r i n g ' s u b s i d i a r i e s .
r ". '
' ".i '
T j
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•
.
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G.20

- 3 Number of Motor Vehicles Financed by Sales Finance Companies
( I n thousands)
Type of v e h i c l e

Feb.
I960

Change from:
Month
Tear
ago
ago

T o t a l f i n a n c e d by r e t a i l
New passenger
Used passenger
New ^ o r a e r c i n l
Used commercial

370
133
210
1L
13

+16
+ 21
+ 19
+ 3
+ 3

+ ill
+ 25
+ 12
+ 3
+ 1

T o t a l f i n a n c e d a t wholesale
New (passenger and cotmercial)
Used (passenger and commercial)

611
53it
77

+68
+60
+ 8

+ 150
+ 1U6
+ k

C r e d i t Sales of New Passenger Cars as a Per Cent
of T o t a l Number Sold a t R e t a i l 1 /
C r e d i t Sales
i960 - February
January
1959 - February

Per Cent

53"
Sbr

58

l / Based on new car i n s t a l m e n t c o n t r a c t s acquired by banks,
s a l e s f i n a n c e companies, o t h e r f i n a n c i a l i n s t i t u t i o n s , and a u t o mobile d e a l e r s . Data f o r p r i o r months may be obtained by w r i t i n g
to the D i v i s i o n of Research and S t a t i s t i c s , Board of Governors of
the F e d e r a l Reserve System, Washington 25, D. C,
r - Revised