Full text of G.20 Sales Finance Companies : January 10, 1961

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BOARD OF GOVE MOBS OF THE FEDERAL RESERVE SYSTEM
G.20 ,. ,

January 10, 1961
SALES FINANCE COMPANIES

L l i i R.A K \

NOVEMBER i960

R e t a i l passenger car i n s t a l m e n t pajper held "by s a l e s f i n a n c e
companies d e c l i n e d $39 m i l l i o n i n November to $7,757 m i l l i o n . The
November d e c l i n e compares with d e c l i n e s of $18 m i l l i o n i n 1959 and
$82 m i l l i o n i n 19$8. Holdings of o t h e r consumer goods paper amounted
to $2,3^7 m i l l i o n , a $51? m i l l i o n i n c r e a s e over the l e v e l of a yoar
ago. T o t a l consumer i n s t a l m e n t paper a t s a l e s f i n a n c e companies
declined s l i g h t l y i n November and was $1,024 m i l l i o n above the year
ago l e v e l .
. . .
R e t a i l passenger automobile paper acquired by s a l e s f i n a n c e
companies i n November amounted t o $538 m i l l i o n , about $20 m i l l i o n l e s s
than the October volume. The number of new passenger c a r r e t a i l cont r a c t s d e c l i n e d during the month b u t was 25 thousand more than a year
ago.
• Business c r e d i t outstanding increased $129 m i l l i o n as
balances on automobile f l o o r plan loans rose by a s i m i l a r amount.
Outstanding Credit Held by Sales Finance Companies
(In 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 (passenger cars)
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 than automotive
Other b u s in e s s c r e d i t

Nov. 30,
I960

I n c r e a s e o r decrease during:
Nov. Nov.
Year ended
I960 1959 November 30, I960

11,141

6

+ 46

+1,024

7,757
2,347
63
974

- 39
+ 28
0
+ 5

- 18
+ 42
+ 1
+ 21

+

+

369
517
29
109

3.705

+129

-148

+

899

601
1,681
136
1,287

- 12
+129
0
+ 12

0
-173
+ 5
+ 20

+

15
571
8
321

+

+

-

+

l / 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 subsidiaries.




G.20

— 2 —
C r e d i t Extended by S a l e s Finance Companies
(In 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 (passenger cars)
New
Used
Other consumer goods paper
E e p a i r and modernization loans
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 )
New
Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale o t h e r than automotive
Other b u s i n e s s c r e d i t l /

Change from:
Month
Year
ago
ago

Nov.
I960
872
538
351
187

- 8
-21
^2?
+ 3

+ 29
+ 8
+ 59
- 51

212
4
118

+ 4
- l
+10

+ 27
+ 1
- 7

1,415
43
33
10

zZ8
- 3
- 1
- 2

+462
3
"0
- 3

1,174
1,100
74

-51
^7
- 4

+472
+481
- 9

42
156

- 1
-23

-

6
1

1
_1/ Excludes some c r e d i t extended to b u s i n e s s , such as 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 .




a.20

- 3 -

Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

Type of v e h i c l e

Nov.
I960

T o t a l f i n a n c e d by r e t a i l
New passenger
Used passenger
New commercial
Used commercial

Si
175

T o t a l f i n a n c e d a t wholesale
New (passenger and commercial)
Used (passenger and commercial)

514
to
70

12
10

Change from:
Year
Month
ago
ago
-10
- 9
0
- 1
0

- 5
+ 25
- 30
0
0

^13
- 2

+133
+190
- 7

C r e d i t S a l e s of New Passenger Cars as a P e r Cent
of T o t a l Number Sold a t R e t a i l l /
Credit Sales
i960 - November
October
1959 - November

P e r Cent
58
60
62

l / Based on new car i n s t a l m e n t c o n t r a c t s acquired 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 obtained by w r i t i n g to the 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 25, D. C.