Full text of G.20 Sales Finance Companies : September 6, 1956
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BOARD,OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM G.20'.'.. ''ys ' /\ r 4 f I'A c X x>9X: September 6 , 1956 gALES FINANCE COMPANIES ,,v/ ^v/ JULY 1956 " passenger car instalment paper held by s a l e s f i n a n c e comp a n i e s continued upward during J u l y , i n c r e a s i n g *>75 m i l l i o n t o an e s t i m a t e d $ 8 , 3 3 5 m i l l i o n a t the month-end. This r i s e compares w i t h i n c r e a s e s of I3&3 m i l l i o n and # 1 2 2 ' m i l l i o n i n the same month of 1955 and 195lt, r e s p e c t i v e l y . T o t a l consumer instalment c r e d i t held by s a l e s f i n a n c e comoanies at t h e end of July 1956 amounted t o an e s t i m a t e d ^9,385 m i l l i o n . The volume of c r e d i t extended on passenger cars decreased from June t o J u l y , r e f l e c t i n g d e c r e a s e s f o r both new and used c a r s . The volume during J u l y , e s t i m a t e d a t 0731 m i l l i o n , was $38 m i l l i o n below June and §1U5 m i l l i o n l e s s t W n J u l y of l a s t y e a r . This month's volume r e p r e s e n t e d the f i n a n c i n g a t r e t a i l of approximately 206 thousand new passenger c a r s and 232 thousand used passenger c a r s , a d e c l i n e i n each i n s t a n c e from the number f i n a n c e d i n June. Wholesale automotive paper outstanding continued c l i n e begun i n March of t h i s year and dropped %li57 m i l l i o n February l e v e l t o an e s t i m a t e d &1290 m i l l i o n at t h e end of Other w h o l e s a l e paper a l s o declined' 1 during the month w h i l e of b u s i n e s s c r e d i t i n c r e a s e d . the d e from the t h i s month. other t y p e s Outstanding C r e d i t Held by S a l e s Finance Companies (In m i l l i o n s of d o l l a r s ) Type of d r e d i t Consumer i n s t a l m e n t c r e d i t R e t a i l automotive (passenger c a r s ) 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 v e h i c l e s ) vilh o l e sa l e aut omot i v e wholesale other than automotive Other b u s i n e s s c r e d i t July 3 1 , 1956 Incre Ese or decrease during: July July Year ended July 3 1 , 1956 1956 1955 9,385 • 87 + 3U0 +1,298 8,335 U22 80 5U8 • 75 + h - il • 9 + 323 + 11 0 > 6 + 1,155 + 50 + 2 + 91 2,316 -122 + 7 + 21h it 66 1,290 78 U82 - 6 + 10 -123 • 3 - h - 8 + 11 + 2 • 80 1 18 117 > + —/Excludes some c r e d i t extended to b u s i n e s s , such as c r e d i t a r i s i n g from factoring operations. G.20 Credit Extended by Sales Finance Companies (In millions of dollars) Type o f c r e d i t Consumer i n s t a l m e n t c r e d i t R e t a i l automotive (passenger c a r s ) . • /New "USed $ 860 -127 TO -106 - 39 "3E -20 W 2bh Other consumer goods paper Repair and modernization loans Personal loans Business c r e d i t i / R e t a i l automotive (commercial v e h i c l e s ) New Used Change i from: Year Month ago ago July 1956 0 0 + 5 h3 5 81 - + 0 1 19 0 1,025 -205 - k - 3 - 1 5 - 2 25 10 Wholesale automotive paper. New (passenger and commercial) Used (passenger and commercial) , 816 m 52 - 1 -237 I2H0 • 3 Wholesale other than automotive Other b u s i n e s s c r e d i t ! / 1-31 110 1* - 8 • 9 + 27 Number o f Motor V e h i c l e s Financed by Sales Finance Companies ( I n thousands) Type o f v e h i c l e July 1956 T o t a l financed by r e t a i l New passenger Used passenger New commercial Used commercial b65 205 232 T o t a l financed at wholesale New (passenger and commercial) Used (passenger and commercial) 36U 323 Ul 1)4 13 Change from: Year Month ago ago -136 - 62 -29 r-g-20 - 1 0 - • 6I4. h • J * 1 -119 -I20 * 1 ' * • - 6 U —/Excludes some c r e d i t extended to b u s i n e s s , 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 o p e r a t i o n s .
