Full text of G.20 Sales Finance Companies : April 5, 1961

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, BOARD OF GOVEPEOES OF THE FEDERAL RESERVE SYSTEM
April 5, 1961

G.20
11 a
'
/
J
:

v

SALES FINANCE COMPANIES
-

*

w> * "-• y-

FEBRUARY 1961

Retail passenger car instalment paper held by sales
finance companies declined $126 million in February to $7,429 million*
Holdings increased $37 million and $3 million in the corresponding
month of i960 and 1959, respectively. Other consumer goods paper
increased $8 million. Total consumer instalment paper at sales
finance companies at the end of February was $638 million higher
than a year ago.
Credit extended in February by sales finance companies
for the purchase of passenger automobiles declined $37 million
from the previous month. After allowance for seasonal influences,
extensions, in the first two months of the year, were at the lowest
levels since 1958. Numbers of new and used car contracts acquired
in February were each about 50 thousand fewer than a year ago.
Business credit outstanding declined $15 million in
February, reflecting reductions in retail commercial vehicle
credit and automobile floor plan loans.
Outstanding Credit Held by Sales Finance Companies
(in millions of dollars)
Type of credit
Consumer instalment credit
Retail automotive (passenger.cars)
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit l/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Increase or decrease during:
Year ended
Feb. 28, Feb. Feb.
1961 i960 February 28, 1961
1961
-116 +108

+638

7,429
2,420
64
1,001

-126
+ 8
0
+ 2

+ 87
+438
+.27.
+ 86

3,799

- 15 +38%

+136

558
1,825
130
1,286

- 16 + 3
- 13 +342
+ 1 + 10
+ 13 + 32

- 21
- 42
- 24
+223

10,914

+
+
.+
+

37
60
1
10

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



G.20

- 2 Credit Extended by Sales Finance Companies
(in millions of dollars)

Type of credit
Consumer instalment credit
Detail automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit l/
Retail automotive (commercial vehicles)
New
Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
- Wholesale other than automotive
/ Other business credit l/

Feb.
1961

Change from:
Year
Month
ago
ago

378
209 .
169

- 81
- 37
- 31
- 6

-2C4
-211
-137
- 74

171
2
105.

- 43
1
0

+ 13
'- 1
- 5

. 38
28
10

m

-203
- I
0
- 1

-708
- 13
-10
- 3

£15

-154

-663
-£>39
- 24 •

• 1552
63
37
135

0
- 1
- 47

- 12
- - 20

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




G.20

- 3 •
Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

Type of vehicle

Feb.
1961

Change from:
Year
Month
ago
ago

Total financed by retail
New passenger
Used passenger
New commercial
Used commercial

-Z5381
159
10
9

cil
-12
- 1
0
0

dJJ- 52
- 51
- 4
- 4

Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

15b

dt3
-43
0

-243
- 14

291
63

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail l/
Credit Sales
1961 - February
• January
i960 - February

Per Cent
56
61
58

l/ Based on new car instalment contracts acquired by banks, sales
finance companies, other financial institutions, and automobile dealers.
Data for prior months may be obtained by writing to the Division of
Research and Statistics, Board of Governors of the Federal Reserve System,
Washington 25, D. C.