FRB: G. 20 Release-- Finance Companies -- February 02, 2004

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Release Date: February 02, 2004
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G.20                                                      FINANCE COMPANIES 1                                     For immediate release
                                                             November 2003                                                 January 2004
 

OWNED AND MANAGED RECEIVABLES 2

						2002		2003
	1998	1999	2000	2001	2002	Q3	Q4	Q1	Q2	Q3 r	Sep r	Oct r	Nov p
Seasonally Adjusted
Growth Rates (percent at an annual rate)
Total	10.2	13.6	15.8	4.6	2.2	2.9	2.4	2.1	0.5	9.0	7.0	14.6	-0.5
Consumer 3	7.2	10.7	15.2	9.2	0.8	-1.6	-5.0	2.2	-4.2	14.9	20.5	10.0	-15.3
Real estate 4	15.9	15.8	14.3	4.4	4.2	9.5	16.5	-4.2	17.6	18.6	1.6	25.3	6.5
Business	11.1	15.5	17.0	0.6	2.9	4.8	4.3	4.4	-1.7	-0.6	-3.8	14.5	10.5

Outstandings (billions of dollars)
Total	907.0	1030.4	1193.3	1248.7	1276.6	1268.9	1276.6	1283.2	1284.8	1313.7	1313.7	1371.0	1370.4
Consumer 3	370.0	409.7	472.0	515.2	519.1	525.7	519.1	522.0	516.5	535.7	535.7	540.2	533.3
Real estate 4	150.3	174.0	198.9	207.7	216.5	207.9	216.5	214.2	223.6	234.0	234.0	280.3	281.8
Business	386.7	446.6	522.5	525.8	541.0	535.2	541.0	547.1	544.7	543.9	543.9	550.5	555.3

AUTO LOANS: TERMS OF CREDIT 5
Percent except as noted; not seasonally adjusted
New car loans
Interest rates	6.30	6.66	6.61	5.65	4.29	2.68	3.18	3.65	2.61	3.55	3.81	3.92	3.93
Maturity (months)	52.1	52.7	54.9	55.1	56.8	58.9	57.4	59.1	61.1	63.0	63.2	63.5	62.9
Loan-to-value ratio	92	92	92	91	94	96	96	96	97	94	94	94	94
Amount financed (dollars)	19,083	19,880	20,923	22,822	24,747	25,959	26,283	25,486	27,468	25,733	25,663	26,067	26,306

Used car loans
Interest rates	12.64	12.60	13.55	12.18	10.74	10.50	10.59	10.32	9.85	9.57	9.36	9.17	9.08
Maturity (months)	53.5	55.9	57.0	57.5	57.5	57.6	57.0	57.7	57.7	57.8	57.8	57.5	57.1
Loan-to-value ratio	99	99	99	100	100	100	100	99	99	100	101	101	100
Amount financed (dollars)	12,691	13,643	14,058	14,416	14,532	14,727	14,650	14,328	14,537	14,654	14,708	14,904	15,143

  1.  Includes finance company subsidiaries of bank holding companies but not of retailers and banks.
  2.  Owned receivables are those carried on the balance sheet of the institution.  Managed receivables are outstanding balances of
  pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator.
  Data are shown before deductions for unearned income and losses.  Components may not add to totals because of rounding.
  3.  The level of consumer credit outstanding in 2000:Q4 includes previously unreported assets, and thus represents a break in
  this series.  The 2000:Q4 growth rate is adjusted to exclude these previously unreported assets.
  4.  The series may contain breaks that result from discontinuities in source data. Growth rates are adjusted to exclude the effect
  of such breaks.
  5.  Data are from the subsidiaries of the three major U.S. automobile manufacturers and are volume-weighted averages covering all
  loans of each type purchased during the month.

						2002		2003
	1998	1999	2000	2001	2002	Q3	Q4	Q1	Q2	Q3 r	Sep r	Oct r	Nov p
Not Seasonally Adjusted
Outstandings (billions of dollars)
Total	912.7	1036.4	1199.8	1255.3	1283.4	1264.3	1283.4	1285.2	1292.7	1309.3	1309.3	1368.0	1370.4

Consumer 3	372.5	412.8	475.9	519.7	523.9	526.5	523.9	518.2	516.2	536.3	536.3	540.5	538.2
Motor vehicle loans	113.5	129.2	141.6	173.9	160.2	176.5	160.2	156.2	166.6	196.7	196.7	200.3	200.5
Motor vehicle leases	96.6	102.9	108.2	103.5	83.3	88.5	83.3	81.8	76.7	75.4	75.4	73.2	71.6
Revolving 6	31.9	32.5	37.6	31.5	38.9	37.3	38.9	36.3	34.6	37.3	37.3	37.3	37.6
Other 7	37.9	39.9	41.3	32.7	38.7	35.9	38.7	40.9	43.1	50.1	50.1	50.3	50.3
Securitized Assets 8
Motor vehicle loans	54.8	73.1	97.1	131.9	151.9	138.9	151.9	152.1	146.5	129.6	129.6	132.6	130.7
Motor vehicle leases	12.7	9.7	6.6	6.8	5.7	6.0	5.7	6.2	6.0	5.7	5.7	5.7	5.6
Revolving	5.5	6.7	27.5	25.0	31.1	29.1	31.1	30.7	29.5	28.9	28.9	28.7	29.4
Other	19.6	18.8	16.0	14.3	14.0	14.4	14.0	13.9	13.3	12.7	12.7	12.4	12.4

Real estate	150.3	174.0	198.9	207.7	216.5	207.9	216.5	214.2	223.6	234.0	234.0	280.3	281.8
One- to four-family	90.0	108.2	130.6	120.1	135.0	126.5	135.0	133.9	142.5	151.8	151.8	195.4	196.8
Other	31.2	37.6	41.7	41.2	39.5	39.0	39.5	40.1	40.9	42.8	42.8	45.7	46.2
Securitized real estate assets 8
One- to four-family	29.0	28.0	24.7	40.7	39.7	40.1	39.7	39.2	38.4	37.6	37.6	37.4	37.1
Other	0.1	0.2	1.9	5.7	2.2	2.2	2.2	1.1	1.8	1.8	1.8	1.8	1.8

Business	389.9	449.6	525.0	527.9	543.0	530.0	543.0	552.8	552.9	539.0	539.0	547.2	550.4
Motor vehicles	64.8	69.4	75.5	54.0	60.7	56.9	60.7	65.3	69.9	62.2	62.2	62.1	69.1
Retail loans	19.5	21.1	18.3	16.1	15.4	17.6	15.4	16.3	17.2	18.1	18.1	16.1	17.6
Wholesale loans 9	32.8	34.8	39.7	20.3	29.3	23.3	29.3	34.0	38.4	30.5	30.5	32.8	38.4
Leases	12.5	13.6	17.6	17.6	16.0	15.9	16.0	15.0	14.2	13.6	13.6	13.2	13.2
Equipment	212.2	238.7	283.5	289.4	292.1	289.2	292.1	287.5	283.4	278.2	278.2	279.5	277.0
Loans	59.2	64.5	70.2	77.8	83.3	82.8	83.3	78.0	77.5	73.1	73.1	73.8	73.4
Leases	153.0	174.2	213.3	211.6	208.8	206.4	208.8	209.5	205.9	205.1	205.1	205.7	203.6
Other business receivables 10	63.9	87.0	99.4	103.5	102.5	99.4	102.5	101.1	102.6	105.1	105.1	112.5	111.6
Securitized Assets 8
Motor vehicles	29.2	31.5	37.8	50.1	50.2	43.8	50.2	53.1	50.0	47.2	47.2	47.2	47.2
Retail loans	2.6	2.9	3.2	5.1	2.4	2.2	2.4	2.2	2.2	2.2	2.2	2.2	2.2
Wholesale loans	24.7	26.4	32.5	42.5	45.9	39.3	45.9	48.6	45.6	42.8	42.8	42.8	42.8
Leases	1.9	2.1	2.2	2.5	1.9	2.3	1.9	2.2	2.1	2.1	2.1	2.1	2.1
Equipment	13.0	14.6	23.1	23.2	20.2	21.6	20.2	21.9	23.5	22.3	22.3	22.5	22.0
Loans	6.6	7.9	15.5	16.4	13.0	14.8	13.0	12.2	12.9	13.2	13.2	13.1	12.6
Leases	6.4	6.7	7.6	6.8	7.2	6.7	7.2	9.7	10.6	9.1	9.1	9.5	9.4
Other business receivables 10	6.8	8.4	5.6	7.7	17.4	19.1	17.4	23.9	23.6	23.9	23.9	23.4	23.5

 

    6.  Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies.
    7.  Includes personal cash loans, mobile home loans, and loans to purchase other types of consumer goods such as appliances, apparel,
   boats, and recreation vehicles.
    8.  Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of
   the loan originator.
    9.  Credit arising from transactions between manufacturers and dealers, that is, floor plan financing.
   10.  Includes loans on commercial accounts receivable, factored commercial accounts, and receivable dealer capital; small loans used
   primarily for business or farm purposes; and wholesale and lease paper for mobile homes, recreation vehicles, and travel trailers.

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