Full text of G.20 Sales Finance Companies : February 9, 1966

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FEDERAL

oT-COvf ••

statistical

RESERVE

release

February 9, 1966.

( r

SALES FINANCE COMPANIES
December 1965

Consumer c r e d i t o u t s t a n d i n g a t s a l e s f i n a n c e companies ^-increased
$175 m i l l i o n , i n December. Other consumer goods accounted f o r much of t h e r i s e ,
a l t h o u g h t h e r e were a l s o s u b s t a n t i a l i n c r e a s e s i n p e r s o n a l l o a n s and r e t a i l
automotive paper.
New c r e d i t e x t e n s i o n s amounted t o $1,425 m i l l i o n , up $132 m i l l i o n
from November and $108 m i l l i o n from December 1964. E x t e n s i o n s f d ? ) t h e e n t i r e
f o u r t h q u a r t e r t o t a l e d $3,941 m i l l i o n , a. r i s e . o f , 2 . 6 p e r cent_ fc^oja t h e t h i r d
q u a r t e r . The t o t a l f o r t h e y e a r was $15,075 m i l l i o n , an i n c r e a s e o f 7 . 5 " p e r
c e n t over 1964.
.........
B u s i n e s s c r e d i t c o n t i n u e d t o i n c r e a s e . f i n December* The amount o u t s t a n d i n g a t t h e end of t h e month was 17 p e r c e n t g r e a t e r t h a n a t t h e end of
December 1964, t h e l a r g e s t y e a r - t o - y e a r i n c r e a s e f o r any December s i n c e 1960.
O u t s t a n d i n g C r e d i t Held by S a l e s F i n a n c e 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
Home r e p a i r and m o d e r n i z a t i o n
Personal loans .
._
B u s i n e s s c r e d i t 1/
R e t a i l automotive
(commercial v e h i c l e s )
Wholesale a u t o m o t i v e
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

I n c r e a s e or d e c r e a s e d u r i n g : .
December 31, December December Year ended
Dec. 3L, 1965
... 1964
1965
1965
16,138
9,241
4,429
123
•2,345
6,729
• - 931 .
2,324
544
2,930

.

m

140

31
97 v
- 3
50

3
85
- 2
54

258

378

' 3
218
21
16

- 4
366
6
10

L376
540
540 . .
- 19
. 315

.
~

964
78
676
94
116

such as t h a t extended by f a c t o r i n g
subsidiaries.




•

i

G. 20
C r e d i t Extended by S a l e s F i n a n c e Companies
( I n m i l l i o n s of d o l l a r s )

J.
|December
1965

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

M25

R e t a i l automotive (passenger cars)
New
Used

655

- 8

429
226

- 8
0

454
•6
310

86
0
54

2,594

Z25

|
I •

Other consumer goods
. Home r e p a i r and m o d e r n i z a t i o n
Personal loans
B u s i n e s s c r e d i t JL/
R e t a i l a u t o m o t i v e (commercial v e h i c l e s )
Used

"

'

-

65
18

-

Wholesale automotive paper
. Nev; ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)
Wholesale other than automotive
Other b u s i n e s s c r e d i t If

1

Change f r o m :
Month
Year
ago
1 108
132

JS.
1
-

59
- 1
16

. ^ 4

z ±

13

.3...
-.1

11
2

1 . 8 3 7 ...

Zll

1,766
71

-77
6

188
486

26
24

••
;

45
1
27
50

^ / E x c l u d e s some c r e d i t e x t e n d e d t o b u s i n e s s , such as t h a t e x t e n d e d by f a c t o r i n g
subsidiaries.




G. 20
Number of Motor V e h i c l e s F i n a n c e d by S a l e s F i n a n c e Companies
(In thousands)

December
1965_ -

Type of v e h i c l e

Total financed at wholesale
New ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)

0

328

Total financed at r e t a i l
New p a s s e n g e r
Used p a s s e n g e r
New commercial
Used commercial .

Change f r o m ;
Year
Month
ago
ago

"

8
- 8
1
- 1

- 4
0
- 2
1

148
157
15
8
686

;

14

—

13
1

-26
5

632
54

C r e d i t S a l e s of New P a s s e n g e r Cars as a P e r Cent
of T o t a l Number Sold a t R e t a i l 1/

Per Cent

Credit Sales
1965 - December

63

1965 - November

60

1964 - December

/

55 .

.

1/Based on new c a r 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 b a n k s , s a l e s f i n a n c e
c o m p a n i e s , o.ther f i n a n c i a l i n s t i t u t i o n s , and a u t o m o b i l e d e a l e r s . D a t a
f o r p r i o r months may b e 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 R e s e a r c h
and S t a t i s t i c s , Board of G o v e r n o r s of t h e F e d e r a l R e s e r v e System,
W a s h i n g t o n , D. C. 20551.