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t

/

G c 20

/"-;^CARD. OF'GOVERNORS OF THE FEDERAL RESERVE SYSTEM

*"

January 6, 1956?

'saiA

finance COMPANIES
NOVE1EER 1955

Passenger car i n s t a l m e n t paper held by s a l e s f i n a n c e
companies i n c r e a s e d $38 m i l l i o n during November, b r i n g i n g monthend balances t o an estimated $7,860 m i l l i o n . This was $2,369
m i l l i o n above a year e a r l i e r * T o t a l consumer i n s t a l m e n t c r e d i t held
by s a l e s f i n a n c e companies a t the end of the month was estimated a t
$8,825 m i l l i o n *
The volume of c r e d i t extended on passenger automobiles dec l i n e d f u r t h e r from t h e mid-year highs» Extensions during November,
estimated a t $710 m i l l i o n , were Sit5 m i l l i o n below t h e preceding
month. Compared with a year ago, however, volume was u p $155 m i l l i o n ,
About 210 thousand new c a r s and 2h2 thousand used c a r s were f i n a n c e d
during t h e month.
Wholesale automotive paper outstanding i n c r e a s e d s h a r p l y
during November as d e a l e r s t o c k s of new c a r s were r e b u i l t following
t h e i n t r o d u c t i o n of 1956 models. Month-end balances were estimated
at $1,256 m i l l i o n , $361 m i l l i o n above a month ago and $702 m i l l i o n
above a year ago# S l i g h t i n c r e a s e s occurred i n the other types of
business c r e d i t .
Outstanding C r e d i t Held by Sales Finance Companies
(In m i l l i o n s of d o l l a r s )
Nov, 30,
1955

I n c r e a s e or decrease durings
Year ended
Nov,
Nov»
1955
1951 Nov. 30, 1955

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 c a r s )
Other consumer goods paper
Repair and modernization loans
Personal loans

8,825
7,86o
U03
83
b79

+
+
+
+
+

5U
38
5
1
10

+ 10
0
+ 3
0
+ 7

+2,500
+2,369
+
63
+
2
+
66

Business c r e d i t 1 /
R e t a i l automotive (commercial v e h i c l e s )
Wholesale automotive
Wholesale other t h a n automotive
Other b u s in e s s c r e d i t

2,136
131
1,256
56
393

+380
+ 11
+361
+ 1
+ 7

+ 60
- 6
+ 73
- 3
h

+
+
+
+
+

Type of c r e d i t

factoring operations,



83b
7U
702
20
38

— 2

G.20

C r e d i t Extended by Sales Finance Companies
(In m i l l i o n s of d o l l a r s )

Nov.
1955

Type of c r e d i t

Change from:
Month ! Year
ago
ago I
|

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 c a r s )
New
Used

'

•••••

?

,

' '

.

'... • [

38
- ii5"

+171
+155

• h76
23h

- hh
- .1

+1U3:
+ 12

- 1
hi
6- - . 0
' . 7U • + 8

Other consumer goods paper
Repair and modernization loans
Personal .loans
Business c r e d i t 1 / '

. . 831
710

'

... .

R e t a i l automotive (commercial v e h i c l e s )
New
Used ,
,
.

1,187

23
99

Wholesale other than automotive
Other b u s i n e s s c r e d i t 1 /

1 +733 •

3
1
2

+ 10
+ 9
+ 1

+U8U
>U79
+ 5

+695
+678
+ 17

hD . ^
30
10
1,325
1,271
5U

Wholesale automotive paper•
New (passenger and commercial)
Used (passenger and commercial}

+L81

+ h
+ 1
+ 11

+
-

2
2

+ 11
+ 17

Number of Motor Vehicles Financed by S a l e s Finance Companies
(In thousands)
•

Type of v e h i c l e

•

Nov.
1955

change from:
Year
Month
ago
ago
- Ul
— 28
- 11
- 1
- .1 ~

Total financed at r e t a i l
New passenger
Used passenger
New commercial
Used commercial
.
,,

m
210
2U2
18
15

T o t a l f i n a n c e d a t wholesale'
New (passenger and commercial)
Used (passenger and commercial)

+187 ..
m
+188
512
39 . - 1

w

—

+ 58 .
+ U6
+ 8
+ 3
+ 1
+256
+2ii9
+ . .7

t / Excludes some c r e d i t extended t o b u s i n e s s , 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 o p e r a t i o n s .