Full text of G.20 Sales Finance Companies : February 4, 1954
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a BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM . February U, 19 5U SALES FINANCE COMPANIES 1- 15 M , I' . : DECEMBER 1953 Sales finance company holdings of instalment paper on passenger automobiles decreased 15 million dollars during December to an estimated 5,306 million at the end of the month. Compared with December 31, 1952, however, these balances were up 1,23k million dollars. Total consumer instalment credit held, estimated at 6,lit? million dollars at the year end, was l,3lU million above a year earlier. The total showed practically no change during December. The volume of credit extended on passenger cars decreased 2h million dollars during December, reflecting declines in the financing of both new and used cars. December's volume was estimated at U93 million dollars, and represented the financing of about 152 thousand new cars and 227 thousand used cars. Wholesale automotive paper outstanding was further reduced during December, decreasing 22 million dollars to an estimated 833 million at the month end. The other types of business credit outstanding also declined during the month. Outstanding Credit Held by Sales Finance Companies (In millions of dollars) Type of credit Consumer instalment credit Retail automotive (passenger cars) Other consumer goods paper Repair and modernization loans Personal loans Business credit 1/ Retail automotive (commercial vehicles) Wholesale automotive Wholesale other than automotive Other business credit Dec. 31, 1953 Increasei or decrease during: Year ended Dec. Dec. 1952 Dec. 31, 1953 1953 6,11+7 5,306 367 83 391 0 -15 - i + U +12 +163 +132 + 15 + 3 + 13 833 35 399 -U5 -13 -22 — 3 - 7 + 55 + 3 + 51 0 + 1 ' +1.31U +1,23U + 35 + 1 + uu + + + 70 97 137 11 Ul 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) Change from: Month " Tear ago ago Dec, 1953 Type of credit Consumer instalment credit + 1 6oli Retail automotive (passenger cars) New Used ['-2k 1*93 281 212 - 95 •' " ^ - 37 -13 —, h7 + h + 1 +20 - 15 + 2 + 2 725 ' -76 -119 Retail automotive paper (commercial vehicles) New Used J3 22 11 - 2 - 1 ~ 1 - 21 Wholesale automotive paper 597 51t9 U8 -68 -72 + i t - 85 - 63 - 22 11 8U 0 - 6 - Other consumer goods paper Repair and modernization loans Personal loans 33 8 70 Business credit 1/ New (passenger and commercial) Used (passenger and commercial) Wholesale other than automotive Other business credit 1/ - 13 - 8 5 8 • Number of Motor Vehicles Financed by Sales Finance Companies (In thousands) Dec, 1953 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) ' Uio 152 227 15 16 300 251 he Change from: Month Tear ago ago -28 -10 -15 - 2 — 1 -31 -36 + 5 - 56 - 28 - 13 - 9 - 6 - - 29 „ 16 1/ Excludes some credit extended to business, such as credit arising from factoring operations.
