Full text of G.20 Sales Finance Companies : April 6, 1964
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FEDERAL statistical RESERVE release L I B R A E ! G.20 SALES' HffAKCE COMPANIES ( April 6, 1964 .. X : . FEBRUARY 1)64 Consumer instalment credit at sales finance companies decreased 4)52 million in February to a total of 51$,8 billion. This decline was less than seasonal, as increases were registered in retail passenger automotive paper and personal loans. Consumer goods credit other than auto declined §66 million, a seasonal dip, while repair and modernization loans showed little change. Total extensions, at $$80 million, were CAO million below the extension: of the previous month, reflecting small reductions in purchases of retail passenger automotive and other consumer goods paper. Business credit expanded #24$ million, with a rise in wholesale automotive paper accounting for most of the incre&se. Outstanding Credit Hsld 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 1/• Retail automotive (commercial vehicles) Wholesale automotive Wholesale other than automotive Other business credit Feb. 29, 1964 Increase or decrease during: Year ended Feb. Feb. 1963 Feb. 29, 1964 1964 13,788 *- 52 -112. +1,232 8,227 3,635 154 1,772 + 7 *- 66 - 2 *+ 9 + 6 -121 - 2 + 5 + + + 750 189 11 304 6,162 +245 +180 + 659 763 2,142 445 2,812 + 3 +181 + 28 + 33 + 7 +149 + 32 - 8 + + + + 110 354 77 118 * Other consumer'goods paper outstanding and personal loans outstanding .for January revised ^ t S3,701 million and ^1,763 million respectively# -o l/ Exclude# some credit extended to business, such as^that extended by y factoring subsidiaries• G.20- -2- Credit Extended, by Sales Finance Companies (in millions of dollars) February 1964 Change from: Business credit l/ Retail automotive (commercial vehicles) New Used 557 -20 + 34 -12 - 8 + 25 + 9 *-20 - 1 *+ 1 + 78 0 + 23 -27 +259 68 - 2 + 8 50 18 Other consumer goods paper Repair and modernization loans Personal loans +135 1,957 New Used *-40 238 6 179 Retail automotive (passenger cars) Year ago 536 221 Consumer instalment credit Month ago 980 Type of credit - 3 + 1 + + 5 3 +171 : 1,390 Wholesale automotive paper Wholesale other than automotive Other business credit 1/ 1,32 6 64 -92 - 1 +167 + 4 133 366 New (passenger and commercial) Used (passenger and commercial) +32 +36 + 28 + 52 ' *' Other consuner goods paper extended and personal loans extended for January revised to G258 million and $178 million respectively. i- 1/ Excludes aono( credit extended to business, such as that extended by factoring subsidiaries. -3_ G. 20 Number of Motor Vehicles Financed by Sales Finance Companies (In thousands) Change from: Type of vehicle February 1964 Total financed at retail 319 New passenger Used passenger New commercial Used commercial 121 173 15 10 Month ago Total financed at wholesale New (passenger and commercial) Used (passenger and commercial) Year ago ±_2 - 4 3 1 1 + 7 - 3 + 3 0 _^6 -32 +63 503 53 -32 0 +62 + 1 Credit Sales of New Passenger Cars as a Per Cent of Total Number Sold at Retail l/ Credit Sales 1964 - February ? January 1963 - February Per Cent 56 r 56 56 r. revised 1j 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 Statis? tics, Board of Governors of the Federal Reserve System, Washington D. C. 20551*
