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.=