Full text of G.20 Sales Finance Companies : August 1, 1969

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F E D E R A L

R E S E R V E

statistical

release

• • f*4l Rt^
August
SALES FINANCE COMPANIES —
J U N E 1969

'

1, 1969

r "

-

F o r the fifth c o n s e c u t i v e m o n t h a l l m a j o f c a t e g o r i e s of c o n s u m e r credit
o u t s t a n d i n g at sales finance c o m p a n i e s r e g i s t e r e d i n c r e a s e s .
W i t h p a s s e n g e r car
paper p r e s e n t i n g the largest r i s e , the total increase in c o n s u m e r credit o u t s t a n d This
ing d u r i n g J u n e for these s p e c i a l i z e d c o m p a n i e s a m o u n t e d to $325 m i l l i o n .
c o m p a r e s w i t h an

crease
decline
higher

i n c r e a s e "of $ 2 2 9 m i l l i o n for J u n e

1968.

The c u r r e n t m o n t h l y i n c r e a s e in o u t s t a n d i n g w a s d u e . i n part to a n inin loans e x t e n d e d and paper p u r c h a s e d d u r i n g the m o n t h , as w e l l as to "a
in r e p a y m e n t s .
than in M a y ;

$19 m i l l i o n

T o t a l e x t e n s i o n s of $ 1 , 5 6 6 million' w e r e $88 m i l l i o n

r e p a y m e n t s of $ 1 , 2 4 1 m i l l i o n r e p r e s e n t e d a d e c l i n e of

from the May

For

the second

level.
q u a r t e r as a whole,- c o n s u m e r credit

o u t s t a n d i n g at sales

f i n a n c e companies, rose $ 7 0 8 m i l l i o n , w i t h a l l m a j o r types of c r e d i t c o n t r i b u t i n g
to the i n c r e a s e .
E x t e n s i o n s a m o u n t e d to $ 4 , 5 0 7 m i l l i o n - a n i n c r e a s e of
$ 7 2 9 m i l l i o n o v e r the a m o u n t e x t e n d e d d u r i n g the first q u a r t e r and $ 4 2 5 m i l l i o n
h i g h e r than in the second q u a r t e r of 1 9 6 8 .
Repayments.of $3,799 million were
$55 m i l l i o n h i g h e r than in the first q u a r t e r and $ 1 9 7 m i l l i o n h i g h e r than second
quarter

1968 r e p a y m e n t s .

(continued

o n p a g e 3)

. O u t s t a n d i n g C r e d i t Held b y Sales F i n a n c e C o m p a n i e s
(In m i l l i o n s of d o l l a r s )
.

J u n e 30,
1969

T y p e of credit
1
Consumer

instalment

.Retail automotive

credit
(passenger
cars)

Other consumer goods
Home r e p a i r and m o d e r n i z a t i o n
Personal- loans

-18,961
1 0 , 4 4 0 ••
5,039
70
3,412.

I n c r e a s e or d e c r e a s e duririgrY e a r ended
June %
J u n e 30, 1969
1968

June.
1969
325

229

194

156

'252

Wholesale automotive
W h o l e s a l e o t h e r than a u t o m o t i v e

1,418
4,158
676

17
74
- 10

Other business

5,408

credit

1/

Retail automotive

(commercial
vehicles)

credit

Digitized for sFRASER
ubsidiaries.

1/ E x c l u d e s

some

credit

extended

-

1 .'
36

11,660

Business

54

94
'

171 •

.

.

896
457

.

-14
383

4
23
318

-

1*722

16VV
175
5
132

,

1,402'

195
439
123
645

e x t e n d e d by f a c t o r i n g
to b u s i n e s s , such as that

-

Credit Extended by Sales Finance Companies
(In millions of dollars)

Consumer^ instalment credit
Retail automotive

1,566

(passenger cars)

-

834

'

Other consumer goods
Home repair and modernization
Personal loans

380 "
3
349

Business credit'1/

2,671
(commercial vehicles)

Mer
Used
' •
Who'lesa-le automotive paper
New- (passenger and commercial)
Used (passenger, and commercial)
. Wholesale other than automotive
Other business- credit

'
|

88

208

28

89

23
5 c

.

60
29

28 c
1
. 31

.

72
2
45

-362 .

-420

587
247

Used

Retail automotive

Change from:.
Year
Month
ago
ago

II

Type of credit

133

10

16

110
23

9

16

• i
j

1,492

j
j
.
j

1
.

-576

1,441
. 51

-429
- 3

-582
6

* 176
870'

-

9
69

1/ Excludes some credit extended to business, such as that extended by
.factoring subsidiaries.
2/ Less than 0.5 million dollars .
c - Corrected .May number.




2/

-432

31
109

G: 20
Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

Type of vehicle

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

1969
360
176
148
• 25
11

Change from:
Month ,
Year
ago
ago
11
4
5 c
2 c
1/

_15

"
-

9
8
2
. 1/

488

-149"

-219

459
29

-145 .
- 4

-217
2

1/ Less than 0,5 thousand.
c - Corrected May number.
(continued

from page 1)

Consumer credit held by sale's finance companies increased. $742 million
in the first six months of 1969, compared with an increase of $401 million for the
same time period in 1968.
So far this year sales finance companies have made
direct loans and purchased paper amounting to $8,285 million - an increase of
$757 million over the amount of credit; tHey had extended during the first half.of
1968. Repayments of $7,543 million for the first six months of the year were
$416 million higher than for the comparable period in 1968.=