Full text of G.20 Sales Finance Companies : December 7, 1964

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F E D E R A L
statistical

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December 7 , 1964#

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S ALES FIN AIT CE COMPMIES

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October 1961).

A l l major t y p e s of c r e d i t , w i t h t h e exception of r e p a i r .
and modernization l o a n s , c o n t r i b u t e d t o t h e $72 m i l l i o n expansion
in consumer i n s t a l m e n t c r e d i t a t s a l e s f i n a n c e companies d u r i n g
October, While t h e i n c r e a s e in r e t a i l passenger auto c r e d i t was
n o t as l a r g e as i n October 19&3* o t h e r consumer goods c r e d i t showed
a h e a l t h y October s p u r t , r e s u l t i n g in an i n c r e a s e g r e a t e r t h a n a
year ago.
T o t a l consumer e r e d i t e x t e n s i o n s amounted t o $50 m i l l i o n
- approximately t h e same as l a s t October. Purchases of r e t a i l
passenger auto paper showed a smaller t h a n seasonal i n c r e a s e over
September, p r o b a b l y due t o s t r i k e c o n d i t i o n s in t h e auto • market,
while b o t h o t h e r consume goods and personal loan e x t e n s i o n s r e g i s t e r e d seasonal d e c l i n e s .
B u s i n e s s c r e d i t a t s a l e s f i n a n c e companies dipped i n
October, w i t h wholesale auto c r e d i t d e c l i n i n g $492 m i l l i o n .
Outstanding C r e d i t Held by S a l e s 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 ( p a s s e n g e r c a r s )
Other consumer goods paper
Repair and modernization l o a n s
Personal loans
Business c r e d i t l /
R e t a i l automotive (commercial v e h i c l e s )
Wholesale automotive
Wholesale o t h e r t h a n automotive
Other b u s i n e s s c r e d i t

ftU1'

I n c r e a s e or deorease during
Year ended
Oct, Oct.
1964 1963 Oct. 31, 1964

14,625

+ 72

+114

+1;438

.8,773
3,754
146
1,952

+ 9
+ 48
- 2
+17

+ 6k
+ 29
0
+ 21

+
+
+

610
568
15
275

5,294

-500

+259

-

123

872 + 6
1,155 •-492
0
438
2,829 - 1 4

+ 16
+215
+ 6
+ 22

+
+

116
253
22
8

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 s u b s i d i a r i e s .




-2-

G.20

C r e d i t Extended by S a l e s 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 ( p a s s e n g e r c a r s )
Hew
Used
Other consumer goods paper
Repair and m o d e r n i z a t i o n l o a n s
Personal loans
Business credit i f
R e t a i l automotive (commercial v e h i c l e s )
&ew
Used
Wholesale automotive paper
New ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)
Wholesale o t h e r t h a n automotive
Other b u s i n e s s c r e d i t l /

October
1964
1,192

Change from;
Year
Month
ago
ago
+

50

-

2

M.

+ 71

- 7k

1+20
229

+ 1+6
+ 25

- 68
- 6

523
7
213

- 12
+ 1
- 10

+ 67
- 2
+ 7

1,352

•*357

-951

78

-

2

60
18

+

3
l

0
+
-

2
2

723

-334

-9k6

660
63

-31+5
+ 11

-939
- 7

130
1+21

- 9
- 12

-

0

5

l / Excludes some c r e d i t extended t o b u s i n e s s , such a s 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 V e h i c l e s Financed by Sales Finance Companies
( I n thousands)

Type of v e h i c l e

October
; 196k

Total f i n a n c e d a t r e t a i l
Hew passenger
Used passenger
Hew commercial
Used commercial
T o t a l f i n a n c e d a t wholesale

; li+9
' i 173
, 17
i
7

Change from:
Year
Month
ago
ago
+ 19

- I4I4.

+ 14
+ 8
- 2
- 1

- 17
- 21
- 4
- 2

:

316

-109

-330

Eew (Passenger and commercial)
Used (P a s s e n g e r and c o m s r e i & i ) * i

m
k.6

-112
+ 3

-318
- 12

:

C r e d i t S a l e s of Hew Passenger Cars as a Per Cent
of T o t a l Humber Sold a t R e t a i l
Credit S a l e s
I96I4. - October
September

Per Cent
71
&7

1963 - October
l / Based on new car i n s t a l m e n t c o n t r a c t s a c q u i r e d 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 may be o b t a i n e d by w r i t i n g t o t h e D i v i s i o n of
Research and S t a t i s t i c s , Board of Governors of t h e F e d e r a l Reserve
System, Washington, D. C. 20551*