Full text of G.20 Sales Finance Companies : October 5, 1956

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
*

*''*&. 20

.
-v•
"" A. i< ^

j

\

October 5 , 1956
SALES FINANCE COMPANIES
August 1956

Passenger car instalment paper held by sales finance companies
increased $92 million during August t o an estimated $8,427 million ?t the
month end. This compares with increases of $3.16 million and $65 million
in the same month of 1955 and 1954, r e s p e c t i v e l y . Total consumer i n s t a l ment c r e d i t held by these companies amounted t o -an--estimated $9 A95 million
at the end of the month.
The volume of c r e d i t extended on passenger automobiles increased
from July t o August, r e f l e c t i n g increases f o r both new and used c a r s . The
volume during August, estimated at $784 m i l l i o n , was $53 million above July
and $177 million l e s s than August of l a s t y e a r . This month's volume r e p resented the financing a t r e t a i l of approximately 221 thousand new passenger
cars and 246 thousand used passenger c a r s , an increase in each instance
over the number financed in July.
Wholesale automotive paper outstanding declined #107 million during August t o an estimated $1183 million at t h e end of the month. Other
wholesale paper remained unchanged during the month while other types of
business c r e d i t increased.
Outstanding Credit Held by Sales Finance Companies
(In millions of d o l l a r s )

Type of c r e d i t
Consumer instalment c r e d i t
R e t a i l automotive (passenger cars)
Other consumer goods paper
Repair and modernization loans
Personal loans
Business c r e d i t ! /
R e t a i l automotive (commercial vehicles),
Wholesale automotive
Wholesale other than automotive
Other business c r e d i t

August 31,
1956

Increase or decrease during:
Year ended
Aug.
Aug.
August 31, 1956
1956
1955

9,495

>110

>335

• 1 ,073

8,427
427
80
561

t 92
> 5
0
> 13

> 316
> 12
+ 2
+ 5

+

+

931
43
0
99

2,2UU

-72

-55

+

197

472
1,183
78
511

+ 6
-107
0
> 29

> 17
-?68
-7
+ 3

+

69
-hO
25
143

>

+
+

1/Excludes some c r e d i t extended t o business, such as c r e d i t a r i s i n g from
f a c t o r i n g operations.




G. 20

-2
CredifeExtended by Sales Finance Companies
(In millions of dollars)

Type of c r e d i t
Consumer instalment c r e d i t
R e t a i l automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
1/
Business c r e d i t —
R e t a i l automotive (commercial vehicles)
New
Used

August
1956

Change from:
Month Year
ago
ago

917
70S
52H
260

+ =57 -169
-177'
+ 37
-150
+ 16 - 27

h3

5
85

0 - 6
10 — 2
• U +16

1,129
143
31
12

+10U -236
+ 5 -10
• 3 - 9
+ 2 - 1

919

+ 73 -292
+ 73 -293
0 + 1

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

mr

Wholesale other than automotive
Other business c r e d i t 1 /

35
132

52

'

+ U +10
• 22 + 56

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

Type, of vehicle

August
1956

Change - from:
Month
lear
ago
ago

Total financed by r e t a i l
New passenger
Used passenger
New commercial
Used commercial

1498
221

*33
+ 15

16
15

+ 2

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

393
353
Uo

:

2h6 ++2±h

-155
- tilt
- 60
- 7
- U

+ 29
-II4I4.
:~li-2
•30
- 1 . - 2

w
— Excludes some c r e d i t extended to business, such as c r e d i t a r i s i n g
from f a c t o r i n g operations.