Full text of G.20 Sales Finance Companies : March 7, 1963
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March 7, 1963. " \ 7""**' : > ~ i • s | P v , L SALES FINANCE COMPANIES JANUARY 1963 Outstanding consumer instalment credit at sales finance companies totaled $12,704 million at the end of January, $510 million more than a month earlier. Most of the expansion resulted from substantial acquisitions from other lenders of paper on consumer goods other than automobiles. Sales finance companies added $480 million to their holdings of this type of paper. Automobile paper increased $22 million and personal loans rose $11 million. Extensions of consumer instalment credit by these companies, at $993 million, were $196 million lower than in December. Extensions on all types of consumer credit except that used for the purchase of used automobiles declined from the December level. During January sales finance companies acquired retail paper on 125 thousand new and 193 thousand used passenger cars. January. Wholesale automotive credit outstanding rose $119 million in At month-end, total business credit amounted to $5,323 million. Outstanding Credit Held by Sales Finance Companies (In millions of dollars) Type of credit Consumer instalment credit Retail automotive (passenger cars) Other consumer goods paper Repair and modernization loans Personal loans Business credit \ J Retail automotive (commercial vehicles) Wholesale automotive Wholesale other than automotive Other business credit Jan. 31, 1963 Increase or decrease during: Year ended J an. Jan. . 1962 Jan. 31, 1963 *1963 12,704 +510 +195 +1,236 7,471 3,603 167 1,463 + 22 +480 - 3 + 11 - 57 , +245 + 1 + 6 + + + + 717 258 5 256 5,323 +115 +140 + 532 646 1,639 336 2,702 + 4 +119 - 5 - 3 - 4 +152 - 7 - 1 + + + + 121 121 35 255 * For revised December 1962 figures, see page 4. 1/ Excludes some credit extended to business, such as that extended by factoring subsidiaries. G. 20 - 2 - Credit Extended by Sales Finance Companies (In millions of dollars) Type of credit Consumer instalment credit Retail automotive (passenger car) New Used Other consumer goods paper Repair and modernization loans Personal loans Business credit 1/ Retail automotive (commercial vehicles) New Used Wholesale automobile paper New (passenger and commercial) Used (passenger and commercial) Wholesale other than automotive Other business credit 1/ Jan. 1963 Change from: Month Year ago *ago 993 -196 +109 575 + 12 340 235 - 10 + 22 > 91 + 60 + 31 255 7 156 -141 - 1 - 66 8 0 + 26 1,825 - 10 +221 58 44 14 + + + 5 4 1 + 14 + 11 + 3 1,331 1,262 69 + + 2 1 3 +125 +129 - 4 - 5 - 12 + 14 + 68 102 334 * For revised December 1962 figures, see page 4. 1/ Excludes some credit extended to business, such as that extended by factoring subsidiaries. - - 3 - G. 20 Number of Motor Vehicles Financed by Sales Finance Companies (In thousands) Type of vehicle Total financed at retail New passenger Used passenger New commercial Used commercial Total financed at wholesale New (passenger and commercial) Used (passenger and commercial) January 1963 Change from: Year Month ago * ago 341 +9 +30 125 193 14 9 -3 +8 +2 +2 +20 + 9 + 2 - 1 529 +1 +18 473 56 +1 0 +30 -12 Credit Sales of New Passenger Cars as a Per Cent of Total Number Sold at Retail 1/ Credit sales 1963 - January 1962 - December January Per cent ^ r 56 * For revised December 1962 figures, see page 4. r - revised. 1/ 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 Research and Statistics, Board of Governors of the Federal Reserve System, Washington 25, D. C. G. 20 - 4 Revised Estimates for Sales Finance Companies DECEMBER 1962 Type of credit Consumer instalment credit Credit Vehicles Outstanding, financed end of month extended (in millions of dollars) (in thousands) 12,194 Retail automotive (passenger car) New Used 7,449 Other consumer goods paper Repair and modernization loans Personal loans 3,123 170 1,452 Business credit 1/ Retail automotive (commercial vehicles) New Used XXX XXX 5,208 642 XXX XXX Wholesale automobile paper New (passenger and commercial) Used (passenger and commercial) 1,520 Wholesale other than automotive Other business credit 1/ 341 2,705 XXX XXX 1,189 563 350 213 XXX 313 128 185 396 ' 8 222 1,835 53 40 13 XXX 1,329 1,263 66 528 472 56 19 12 7 107 346 1/ Excludes some credit extended to business, such as that extended by factoring subsidiaries.
