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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
December 6, 1955

0.20
SALES FINANCE COMPANIES

/A

OCTOBER 1955

Sales finance company holdings of instalment paper on
passenger automobiles increased 93 million dollars during October to
an estimated 7,822 million a t the month end. The r i s e , l e s s than
the large mid-year increases, brought the t o t a l increase f o r the 12
months ending October 31 to 2,331 million d o l l a r s . Total consumer
instalment c r e d i t held by sales finance companies amounted to an estimated 8,771 million dollars a t the end of October.
The volume of c r e d i t extended on passenger automobiles in
October, estimated a t 755 million d o l l a r s , was 113 million below
September, but 200 million above the year-ago volume. October's
volume represented the financing of about 238 thousand new cars and
253 thousand used cars.
Wholesale automotive paper outstanding decreased s l i g h t l y
f u r t h e r during October. Balances outstanding at the end of the month
were estimated a t 895 million d o l l a r s , 63 million below a month ago
and 414 above a year e a r l i e r . Other types of business c r e d i t showed
s l i g h t increases during the month.

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

Type of c r e d i t
Consumer instalment c r e d i t
R e t a i l automotive (passenger cars)
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 vehicles)
Wholesale automotive
Wholesale other than automotive
Other business c r e d i t

Oct. 31,
1955

MB

Increase or decrease during:
Year ended
Oct.
Oct.
Oct.
31. 1955
i23i

2m.
+104

7,822
398
82
469

+ 21

+2,456
+2,331
+ 61
+
1
+ 63

- 46
420
895
55

386

+ 11

+
+
+
+

514
57
4l4
16
27

1 / Excludes some c r e d i t extended to business, such as c r e d i t a r i s i n g from
factoring operations.



0.20

- 2

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

Consumer instalment c r e d i t
Retail; automotive (passenger cars).
New
Used' .

-111 !
869
: • .755 : >113
: 520
- 90 • 1
23 •
235 ,

Other consumer goods paper
Repair and modernization loans •
Personal loans

:

Buaiiiese c r e d i t l /

Wholesale other than automotive
Other "business c r e d i t l /

;

+' 8
'42
• 0 '
6
; o - +' 1
' • 66 • ; + 2
+ 11

:

'

+220
+200
" +176
'+• 24

::

' 1,006 ' '

R e t a i l automotive (commercial vehicles)
New
Used
Wholesale automotive paper
New (passenger and .commercial)
Used (passenger and commercial)

Change from:
Month | Year
ago i
ago

Oct.
1955

Type of c r e d i t

43 :
. • , 31
' ' 12

18

-

+453
•+ 8
7
'+ 1

841
79£
49

- 19... . +432
+414
- 17
- 2 : . +18

21
101

- 3
+ 10

+ 5
+ 8

Number of Motor Vehicles Financed by Sales Finance Companies
(in thousands)
Type of ; vehicle
Total financed a t r e t a i l
New passenger
Used passenger
New commercial
Used commercial
Total financed a t wholesale
New (passenger and commercial)
Used (passenger and commercial)

Oct.
1955 '
: -526
238
253
19:
16
364
. : 324
40

Change from:"
Month
Year
ago
ago
- 43
- 24
- 3
- 1
- 27
-24

+
+
+
+
-

84
64
18
3
1

+167.
• +156
+ 11

- 3
i
1./ Excludes some c r e d i t extended to business, such as • c r e d i t a r i s i n g
from f a c t o r i n g operations.