Full text of G.20 Sales Finance Companies : January 7, 1959
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
/ y \ ( ^ 0 2 BOARD OF GOVERNORS OF THE FEDERAL HESF1VE SYSTEM J a n u a r y 7, 1959 : GOVERNOR 0r> SALES HMANCE COMPANIES UTBRARY November 1958 % RESERVE-^ S a l e s f i n a n c e company h o l d i n g s of r e t a i l p a s s e n g e r c a r i n s t a l m e n t paper d e c r e a s e d $82. m i l l i o n d u r i n g November 1958•to an e s t i m a t e d $ 6 , 3 9 5 m i l l i o n a t t h e end of t h e month.; T h i s compares w i t h d e c r e a s e s of $27 m i l l i o n and $28 m i l l i o n during t h e same month of 195.7 and 1956 r e s p e c t i v e l y . T o t a l consumer i n s t a l m e n t c r e d i t a t s a l e s f i n a n c e companies d e c l i n e d $69 "million d u r i n g t h e month--to $8,708 m i l l i o n . ' R e t a i l c r e d i t extended f o r p u r c h a s e s of p a s s e n g e r - a u t o m o b i l e s d e c l i n e d $lt7 m i l l i o n r e f l e c t i n g d e c r e a s e s i n e x t e n s i o n s of c r e d i t f o r both new and used p a s s e n g e r c a r s . About 93 thousand new c a r s and 178 thousand u s e d c a r s were f i n a n c e d a t r e t a i l . •Wholesale automotive p a p e r o u t s t a n d i n g i n c r e a s e d $210 m i l l i o n d u r i n g November. T h i s compares with an i n c r e a s e of $305 m i l l i o n d u r i n g t h e same month a y e a r ago. A l l o t h e r t y p e s o f b u s i n e s s c r e d i t on b a l a n c e i n c r e a s e d s l i g h t l y . O u t s t a n d i n g C r e d i t Held by S a l e s Finance Companies (In m i l l i o n s o f d o l l a r s ) Type of c r e d i t ; ! I n c r e a s e or d e c r e a s e during; Nov. 30j : Nov., Nov. | Year ended 1958 | 1958 1957 (Nov. 30> 195)8 t 8 56 8,708 '"i - 69 . ,' Consumer i n s t a l m e n t c r e d i t R e t a i l automotive ( p a s s e n g e r c a r s ) Other consumer goods paper R e p a i r and m o d e r n i z a t i o n l o a n s Personal loans 6 , 3 9 5 1 - 82 - 27 1 , 5 7 1 ;' + 11 - 2 0 - 2 ; 19 ; 1 723 !.• 2 + 10 f +21& + 298 2,22^ Business c r e d i t l / R e t a i l automotive (commercial v e h i c l e s ) Wholesale automotive Wholesale o t h e r t h a n automotive Other b u s i n e s s c r e d i t U69 866 100 788 I 1 - 8 - lU |1 + 210 + 3 0 5 !1 1 0 ! i1 + ! !+ 11 ' + 7 1 . 1 iL - 1 ,115 183 2 + 78 + — L21 • 7U U30 1 82 1 / Excludes some c r e d i t extended t o b u s i n e s s , such as t h a t extended by factoring subsidiaries. G.20 - 2 C r e d i t Extended by S a l e s Finance Companies ( I n m i l l i o n s of d o l l a r s ) Type o f c r e d i t | Change from: Year j Month ago ago ! NOV. 1958 ! Consumer i n s t a l m e n t c r e d i t R e t a i l automotive ( p a s s e n g e r c a r s ) New Used Other consumer goods p a p e r R e p a i r and m o d e r n i z a t i o n l o a n s Personal loans Bus iness c r e d i t l / R e t a i l automotive (commercial v e h i c l e s ) Mew Used 687 U37 2bZ 195 - 51 r%7 - 2$ - 22 .-.SI. -129 -133 • h lh9 5 96 - 10 0 + 6 + 27 + 5 + 5 1,073 + 32U - 6 - 5 - l -2hh 0 0 0 + 353 - 3 -252 -269 + 17 - H 11 Wholesale automotive paper New ( p a s s e n g e r and commercial) Used ( p a s s e n g e r and commercial) 86U 798 66 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 1 / 37 136 1 : - 6 - ill i + 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 . 0 8 Number o f Motor V e h i c l e s Financed by S a l e s Finance Companies ( I n thousands) ——!—— —— — - Type o f v e h i c l e 291 " 93 178 10 10 Total financed by 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 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) Chango from: Year Month ago ago Nov. 1958 | - 39 377 317 60 + 132 + 136 - h - - - 50 + 8 - 1 ~- 2 U - 23 - 2 - 3 j - 85 -103 + 18 i 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 / Credit Sales 1958 - November October 1957 - November P e r Cent ^ (r ^ l / 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 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 a u t o mobile d e a l e r s . Data f o r p r i o r months may be o b t a i n e d b y 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 o f Governors of t h e F e d e r a l Reserve System, Washington 25> D. C.
