Full text of G.20 Sales Finance Companies : October 3, 1967
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FEDERAL statistical RESERVE release October 3, 1967 ( . . , . • " c S A L E S '' FINANCE COMPANIES AUGUST 1967 • Consumer' litetalment credit outstanding at" sales finance-companies increased $8 million in August to a total of $16,755 million. This small change in outstandings--less than seasonally ekpected--resulted from an appreciable drop in the auto category. Modest rises were seen in other consumer goods and in personal loans outstanding. • . Credit extended by sales finance companies rose $37 million to a level of $1,260 million, a normal rise for August. Other consumer goods extensions showed particular strength. Repayments this month were high, especially on automobile loans. .. .. B u s i n e s s r c r ed'it outstanding dropped $819 million in August. Wholesale automotive ^outstandings were the sole cause, as all other categories showed advances. Extensions of business credit followed a similar pattern, with a downtrend in the wholesale automotive category.• Outstanding Credit Held by Sales Finance Companies V (In millions of dollars) Type of credit Consumer instalment credit decrease during: Increase or < August 31, Year ended . August. August 1967 August 31, 1967 1966 1967 16,755 _§ 23 Retail automotive (passenger • cars) 9,200 -52 41 Other consumer goods Home repair and modernization Personal loans 4,781/ 107 2,667 , 29 - 1 32 53 0 53 Business credit If Retail automotive (Commercial vehicles) Wholesale automotive Wholesale other than automotive Other business credit 1/ 6,576 -819 11 -851 8 13 23 -921 •r' 4 -28 149. - 5 177 . -922 1,070 1,720 543 3,243 -298 i -12 . 20 -275 -57 243 Excludes some credit extended to business, such as that extended by factoring subsidiaries. c:2o Credit Extended by Sales.Finance Companies (In millions of dollars) Consumer instalment credit 1,260 New "Used Other consumer goods . Home repair and modernization Personal loans -109 - 24 5 -83 ' - 26,. - • 112 . . - Wholesale other than automotive Other business credit 1/ . 467 52 170 526 , 37 5 4 i -843 . r - 31 -846 3 -33. 2 4.1 57 /Excludes some credit extended to business, such as that extended by factoring subsidiaries. 22 0 .11 16 5 519 ' New. (passenger and commercial) Used (passenger and commercial) 43 3 16 .21 86 26 : Wholesale automotive paper - , -724 1,327 Retail automotive (commercial vehicles) .. . ' -_19 .396. 6 282 Business credit 1/ ' • New y . - Used • - - 76 387189 * ' 37 576 Retail automotive (passenger cars) : Change from: Month Year ago agfo • August 'I9f7 Type of credit 4 59 ' ' G. 20 Number of Motor Vehicles financed by Sales Finance Companies (In thousands) Total financed at-retail 0 291 New passenger Used passenger New commercial . Used commercial -62 129 131 18 13 , - 8 4 1 5 -31 -30 - 1 0 207 Total financed at wholesale New (passenger and commercial) Used (passenger and commercial) Change from: Year . Month ago ago August 1967 Type of vehicle -334 -10 169 38 -335 1 - 9 - 1 - - Credit Sales of Next Passenger Cars as a Per Cent of Total Number Sold at Retail J./ Credit Sales Per Cent 1967 - August 86 1967 - July 1966 - August • . " ' r 77 r85 JL/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, D. C. 20551. r - Revised.
