Full text of G.20 Sales Finance Companies : January 8, 1962
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******* F E D E R A L statistical G.20 ^ U 1 R E S E R V E release GOVERNORS^ January 8, 1962 * T? V SALES FINANCE COMPANIES xv NOVEMBER 1961 L KcbiM--: - - On a revised basis, sales finance companies on November 30 held $6,611 million in retail automotive paper on passenger cars, $10 million less than at the end of October. Other types of consumer instalment credit rose slightly. Extensions of consumer instalment credit by sales finance companies were $27 million less than in October, on the revised basis, but $38 million more than in November i960. The number of new passenger cars financed at retail was 8 thousand less than in October, on the revised basis, and also 8 thousand less than in November 1960. Business credit, unrevised, rose $145 million with wholesale paper on new automobiles accounting for most of the increase. The number of new vehicles financed at wholesale rose 54 thousand. Outstanding Credit Held by Sales Finance Companies (In millions of dollars) Type of credit Consumer instalment credit l/ Retail automotive (passenger cars) Other consumer goods paper Repair and modernization loans Personal loans Business credit 2/ Retail automotive (commercial vehicles) Wholesale automotive Wholesale other than automotive Other business oredit Nov. 30, 1961 Increase or decrease during: Year ended Nov. Nov, I960 Nov. 30, 1961 1961 10,878 + 12 + 4 -349 6,611 2,940 160 1,167 - 10 + 11 + 3 + 8 - 37 + 36 + 2 + 3 -732 +236 + 22 +125 3,356 +145 +129 -349 537 1,229 140 1,450 - 2 +104 + 3 + 40 - 12 +129 0 + 12 - 64 -452 + 4 +163 previous G.20 releases. For back figures on outstanding credit, see Federal Reserve Bulletin for December 1961, pp. 1390-1400 and pp. 1456-59* 2/ Excludes some credit extended to business, such as that extended by factoring subsidiaries. G.20 - 2 - Credit Extended " y Sales Finance CoEpsulesb (In millions of dollars) Type of credit Nov. 1961 Month ago s | Year Consumer, instalment credit l/ ' Retail automotive (passenger cars) New Used £24 188 - 2 + 38 - 2 - 13 + 11 Other consumer goods paper . Repair and modernization loans Personal loans 263 10 144 - 0 1 3 + 19 + 1 + 20 1,524 —Tig 3% 12 +191 - 3 - 2 - 1 +109 + + 1.216 1,130 86 +1$4 •-5 115 + 42 + 30 46 214 - 3 + 43 + 4 - 58 r Business credit 2/ Retail automotive.(commercial vehicles) • New Used Wholesale automotive paper ' New (passenger and commercial) 'Used (passenger and commercial.) . Wholesale other than automotive fither business credit 2/ -21 r l + 3 3 2 + 12 ... i l/ All consumer instalment credit series on revised basis, not comparable with previous G.20 releases. For back figures on credit extended, see Federal Reserve Bulletin- for December 1961, pp. 1390-1400 and.pp. l4$6-592/ Excludes some credit extended to business, such as that extended by factoring subsidiaries. G.20 - 3 - Number of Motor Vehicles Financed by Sales Finance Companies (in thousands) Type of credit Total financed at retail l/ New passenger Uaed passenger New commercial Used commercial Total financed at wholesale New (passenger and commercial) Used (passenger and commercial) November 1961 314 121 Change from*, Month Year ago QfQ -l 14 11 -13 r-B - 5 0 0 +2 +1 77 +51 +55 - 3 +3 -4 +7 168 -3 -8 +2 Credit sales of New Passenger Cars as a Per Cent of Total Number Sold at Betail 2/ Credit Sales 1961 - November October i960 - November p e r cent ~ ^2" 59r 57r r - Revised l/ Includes revised data for new and used passenger cars financed at retail, not comparable with previous releases. 2/ Based on new car instalment contracts acquired by banks, sales finance companies, other financial institutions, and automobile dealers. Data for prior months may be obtained by writing to the Division of Besearch and Statistics, Board of Governors of the Federal Reserve System, Washington 25, D. C.
