Full text of G.20 Sales Finance Companies : November 5, 1953

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
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November 5, 1 9 %
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SEPTEMBER 1953

. -Sales hjiaaa.be company holdings of instalment paper on passenger auto*
mobiles amounted; to an estimated"^,18& million dollars at the end of September,
78 million above! the preceding month-end and 1,526 million above a year ago.
Practically no changes"occurred:in holdings of other types of consumer credit
during they month. Total consumer instalment credit outstanding at sales finance
companies on September 30 amounted to 'an estimated 6,00U million dollars,
million above the preceding month.
' "ihe farther slackening in the rate of expansion in automobile outstandings during September "agaiin reflected :both a decline in extensions of credit ^n •
passenger cars and an increase in repayments. The decrease in credit extended
was accounted fdr by a drop in •used car volume which was only in part off se • Y-*
•
an increase in the volume of credit extended on new cars. The average amount ot
credit' 'extended iper % 'car showed -pr-actiqally no change for net? passenger cars, an
decreased "slightly for used cars.
i
"Wholesale automotive credit'held by sales finance companies, estimated
at 891--rad.ilion dollar.S. on September 36, showed little change from, the, preceding
month-end. Holdings of other wholesale paper and commercial vehiclepaper aecreased during the month, while other business credit, increased slight y.

Dufstandittg Credit-Hel-d-by-Sales Finance-Companies..
• : (In. pillions, Pf dpUws)...
.
' Type of "cfedit

— —

Consumer instalment credit
Retail automotive (passenger cars) •
Other consumer good? paper ' >
\
Repair 'and modernization loans
Personal loans
|
Business-credit 1/
j
•
Retail automotive (commercial vehi&les)
Wholesale automotive :
1
Wholesale other than automotive f
Other business credit;
I
:
;
1
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CTWit.:
operations.




rease during:
Increase! or dec
Sep* ,.30,. • - Sept #...
Year ended
1953
Sept. 30, 1953
1952
1953
+ 68
+80
6,ooU
"" ^ 2
+
5,186" " " " 4-^8
0.' . + 12
37k
+ 3
+ 2
Ih
+ 1'
0
370
-13
1,833
-11
U9U
891
h2
1 0 . ' /"•11. *6',

+1,614.2
+

%
" '+ U3

+ ii03;
+105. '
:
38
- 2 '
. . . + . 375 V
. ,
.
;
+107
5
- 2
;•
*
71
2
•

m o r # ' C M a i - t ^ i ^ - f r o m factoring
'

f r
Credit Extended by Sale# finsipeg Gpmpaniea
( f millions of M i # ; )
If
Type of gredit

legt#
1953

Change from:
Month
ago

Year
aso

656

%15

+ 81

570
306
26k

- 8
+ 6
-111

+ 91
+ 61
+ 30

31
7
W

~ 3
0
-

- 12
+ 1
+ 1

m

sS

+ 87

Retail automotive paper (commercial vehicles)
New
Used

J6
23
13

+ 2
+ 2
0

- 15
— 8
- 7

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

711
659
52

zB
~k8
- 3

+105
+108
•— 3

12
89

- 3
- 3
»

Consumer instalment credit
Retail automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit 1/

Wholesale other than automotive
Other business credit 1/

+

k
1

Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

Type of vehicle

Sept,
1953

Total financed at retail
New passenger
Used passenger
New commercial
Used commercial

1±83
170
278
17

Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

362

^

18

315
hi

Change from:
konth .
Year
ag0
aao
'
+ h
-10
+ 2
0
liii
ml2
- 2

+ 80
+ 3h

+ 55
* h
" 5
»
+ 62

+ 61
+

1

^operations' ° r e d i t extended to business, such as credit arising from factoring