Full text of G.20 Sales Finance Companies : January 6, 1956
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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 .