Full text of G.20 Sales Finance Companies : December 3, 1953

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
December 3, 1953

G.20
SALES FINANCE COMPANIES
R A. «

j

OCTOBER 1953

paper outstanding at sales finance companies - on passenger
automobiles increased 86 million dollars during October to an estimated .,,272
million at the end of the month. Compared with a year ago, holdings were up l,U6o
million dollars. Total consumer instalment credit outstanding at ohese companies
on October 31 was estimated at 6,093 million dollars, 88 million above
e preceding month-end and 1,5>70 million above a year ago#
The expansion of automobile credit outstanding during October was somewhat larger than'in September, reflecting a gain in extensions of credit on new
passenger cars. The increased volume of credit extended on new cars more than
offset a decrease in used car credit extended, and resultedin a net g a m
total from 570 million dollars in September to 587 million in October.
Wholesale automotive paper held by sales finance companies, estimated
at 883 million dollars at the end of October, was slightly below the preceding
month-end. Holdings of other wholesale paper and commercial vehicle paper continued to decrease during the month. Other business credit outstanding showed
little change.

Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)
Type of credit

Oct. 31,
1953

Increase or decrease during:
Year'ended
Oct.- 31, 1953
+1,570

Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods paper
Repair and modernizations loans"
Personal loans
Business credit 1/
.. Retail automotive (commercial vehicles)
Wholesale:automotive
Wholesale other than automotive
Other business credit

+1,1+68
+

+

6o
2
hit

+100

1/ Excludes some"credit extended to business, such as credit arising from factoring
operations•



G.20

2

**

Credit Extended by Sales Finance Companies
(in millions of dollars)
Chang;
Month
ago

CD

Consumer instalment credit

Oct,
1953

1
£

Type of credit

Year
ago

6?6

+20

-11

Retail automotive (passenger cars)
New
Used

587

+17

335
252

+29
-12

0
+11
-11

Other consumer goods paper
Repair and modernization loans
Personal loans

33
' 8
hQ •

+ 2
+ 1
0

-12
+ 1
0

876

+28

-25

J1
23
lb

+ 1

-21

0
+ 1

-iii
- 7

Business credit 1/
Retail automotive paper (commercial vehicles)
New
Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit \J

733
682
51

+22

+11

+23
- 1

+26

12
9h

0
+ 5

-15
k
-11
-

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)

Oct#
1953

Change from:
Month
Tear
ago
ago

196

+13

+15

187
270
18
21

+17
- 8
> 1
+ 3

+ k
+22
- 7
- L

372

+10

+11

+

+19

32U
k8

9

+ 1

1/ Excludes some credit extended to business# such as credit arising from
factoring operations.



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