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RESERVE

FEDERAL
statistical

release

f^AL

G. 20

August 7, 1964
SALES FINANCE COMPANIES
JUNE 1964

Consumer-'£nstalmerit c r e d i t a t s a l e s f i n a n c e companies r o s e $201
m i l l i o n during J u n e - - a g r e a t e r than seasonal i n c r e a s e . All types of c r e d i t
c o n t r i b u t e d to t h i s expansion.
For the second q u a r t e r of 1964, t o t a l c r e d i t increased $426
m i l l i o n ; t h i s compares with a $233 m i l l i o n i n c r e a s e f o r the same q u a r t e r
of 1963. All forms of c r e d i t except r e p a i r and modernization loans showed
stronger than seasonal i n c r e a s e s . Nonautomotive consumer goods paper
o u t s t a n d i n g , which had declined over $200 m i l l i o n i n the year-ago q u a r t e r ,
recorded a s l i g h t i n c r e a s e t h i s year. Passenger car c r e d i t expanded by
$368 m i l l i o n during the s p r i n g , or somewhat l e s s than the $420 m i l l i o n
i n c r e a s e r e g i s t e r e d i n the same q u a r t e r of 1963.
Extensions f o r each major type of consumer c r e d i t were g r e a t e r i n
June than i n May. Likewise, second quarter extensions were l a r g e r than
extensions recorded f o r the second quarter of 1963, except i n the case of
r e p a i r and modernization paper.
Repayments i n June, following the p a t t e r n of previous months,
remained a t a high l e v e l . For the quarter as a whole, repayments of nearly
a l l types of c r e d i t were g r e a t e r than i n the year-ago q u a r t e r .
Outstanding Credit Held by Sales Finance Companies
(In m i l l i o n s of d o l l a r s )
I n c r e a s e or decrease during:
June 30,
Type of c r e d i t
June
June
Year ended
1964
1964
1963 June 30, 1964
Consumer instalment c r e d i t
R e t a i l automotive (passenger c a r s )
Other consumer goods paper
Repair and modernization loans
Personal loans
Business c r e d i t 1/
R e t a i l automotive (commercial v e h i c l e s )
Wholesale automotive
Wholesale other than automotive
Other business c r e d i t

14,228

+201

+110

8,633
3,615
150
1,830

+144
+ 32
+ 1
+ 24

+156
- 67
0
+ 21

6,482

+ 54

+ 70

842
2,362
466
2,812

+ 21
+ 36
- 10
+ 7

+ 11
+ 52
- 9
+ 16

+1, 535
+
' +

+

+

+

+

+
+

699
546
12
302
708
128
508
51
21

1/ Excludes some c r e d i t extended t o b u s i n e s s , such as t h a t extended by
factoring subsidiaries.




G.20
Credit Extended 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 c a r s )
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business c r e d i t l /
R e t a i l automotive (commercial c h i c l e s )
New
. Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale o t h e r than automotive
Other b u s i n e s s c r e d i t l /

June
1964

Change from:
Year
Month
ago
ago
+248

1,224
758

+ 61

+J0

490
268

+ 44
+17

+ 62
+ 8

542
9
215

+ 45
+ 2
+ 24

+158
+ 1
+ 59

2,24?.

+ 81

+408

88

+

6

+ 20

71
17

+
+

5
1

+ 18
+ 2

1,609

*125

1,545
64

+128
- 5

+507
+ 1

156
410

- 71
+ 21

+ 27
+ 55

Excludes some c r e d i t 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 . .




G.20

-3-

Number of Motor Vehicles Financed, by Sales Finance Companies
( i n thousands)

11
11

Type of v e h i c l e

Month
ago

Year
ago

±21

+ 11

175
208
17
7

+14
+14
— 1
- 2

+ 19
- 6
+ 1
- 5

640

+48

+111

586
54

+48
0

+110
+ 1

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

Change from:

Credit Sales of Hew Passenger Cars a s a Per Cent
of T o t a l Number Sold a t R e t a i l l /
Credit Sales

Per Cent

1964 - June
May

69
r 62

1963 - June

64

r - revised
\ J Based on new car instalment 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 automobile d e a l e r s .
Data f o r p r i o r months aay be obtained by w r i t i n g t o t h e Division of
Research and S t a t i s t i c s , Board of Governors of t h e Federal Reserve
System, Washington, D. C. 20551