G.20 FINANCE COMPANIES 1,2 For immediate release November 2001 January 2002 OWNED AND MANAGED RECEIVABLES 3 --------------------------------------------------------------------------------------------------------------------------------------- 2000 2001 _______________ _______________________________________________ 1996 1997 1998 1999 2000 Q3 Q4 Q1 Q2 Q3 r Sep r Oct r Nov p --------------------------------------------------------------------------------------------------------------------------------------- Seasonally Adjusted Growth Rates (percent at an annual rate) Total 12.2 7.2 10.1 13.6 15.0 13.5 10.3 7.7 10.6 2.8 2.7 -2.2 3.1 Consumer 4 10.5 10.0 7.2 10.8 13.5 18.6 13.2 16.6 5.9 4.6 -1.6 4.6 30.1 Real estate 58.4 13.0 15.9 15.8 14.3 18.5 10.4 6.2 13.0 8.8 -10.1 26.7 -39.0 Business 3.3 2.7 10.9 15.3 16.8 7.3 7.7 0.2 13.9 -1.2 11.9 -20.0 -4.9 Outstandings (billions of dollars) Total 765.8 821.1 904.4 1027.0 1181.3 1151.7 1181.3 1203.9 1235.7 1244.3 1244.3 1242.0 1245.3 Consumer 4 312.9 344.1 369.1 409.0 464.0 449.1 464.0 483.2 490.4 496.0 496.0 497.9 510.4 Real estate 114.8 129.7 150.3 174.0 198.9 193.8 198.9 202.0 208.5 213.1 213.1 217.8 210.8 Business 338.2 347.2 385.0 444.0 518.4 508.7 518.4 518.7 536.8 535.2 535.2 526.3 524.1 --------------------------------------------------------------------------------------------------------------------------------------- AUTO LOANS: TERMS OF CREDIT 5 --------------------------------------------------------------------------------------------------------------------------------------- Percent except as noted; not seasonally adjusted New car loans Interest Rates 9.84 7.12 6.30 6.66 6.61 7.06 5.87 7.09 6.50 6.01 5.42 2.71 2.89 Maturity (months) 51.6 54.1 52.1 52.7 54.9 55.7 56.7 55.1 56.8 57.4 57.2 53.7 51.0 Loan-to-value ratio 91 92 92 92 92 91 92 90 91 92 92 94 92 Amount financed (dollars) 16,987 18,077 19,083 19,880 20,923 20,694 22,126 21,813 21,969 22,775 23,049 24,443 24,934 Used car loans Interest Rates 13.53 13.27 12.64 12.60 13.55 13.75 13.70 13.21 12.48 11.96 12.01 11.41 10.96 Maturity (months) 51.4 51.0 53.5 55.9 57.0 57.1 56.8 57.9 57.8 57.6 57.6 57.2 56.7 Loan-to-value ratio 100 99 99 99 99 100 100 99 100 100 101 100 100 Amount financed (dollars) 12,182 12,281 12,691 13,642 14,058 14,128 14,298 14,155 14,428 14,434 14,408 14,627 14,669 --------------------------------------------------------------------------------------------------------------------------------------- 1. Data for finance companies have been revised from July 1996 forward as a result of benchmarking to the 2000 quinquennial finance company survey. This survey covered asset and liability information as of June 30, 2000. For more information, visit . 2. Includes finance company subsidiaries of bank holding companies but not of retailers and banks. 3. 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. 4. 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. 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. OWNED AND MANAGED RECEIVABLES 3 ---------------------------------------------------------------------------------------------------------------------------------------------- 2000 2001 _______________ _______________________________________________ 1996 1997 1998 1999 2000 Q3 Q4 Q1 Q2 Q3 r Sep r Oct r Nov p ---------------------------------------------------------------------------------------------------------------------------------------------- Not Seasonally Adjusted Outstandings (billions of dollars) Total 773.1 828.7 912.7 1036.4 1192.1 1146.6 1192.1 1207.9 1241.8 1239.5 1239.5 1240.7 1242.2 Consumer 4 315.9 347.3 372.5 412.7 468.3 450.6 468.3 478.9 491.3 498.0 498.0 500.9 513.9 Motor vehicle loans 88.8 93.3 113.5 129.2 141.6 148.2 141.6 138.6 144.6 151.6 151.6 164.8 177.8 Motor vehicle leases 93.2 98.8 96.6 102.9 108.2 109.9 108.2 106.4 110.2 108.3 108.3 107.3 105.5 Revolving 6 32.0 37.0 31.9 32.5 37.6 33.6 37.6 34.9 36.8 35.9 35.9 28.0 29.3 Other 7 34.2 37.3 37.9 39.8 40.7 39.8 40.7 39.2 32.8 33.4 33.4 31.3 31.7 Securitized Assets 8 Motor vehicle loans 36.8 44.3 54.8 73.1 97.1 81.4 97.1 108.0 114.6 117.5 117.5 124.3 124.8 Motor vehicle leases 8.7 10.8 12.7 9.7 6.6 7.2 6.6 6.6 7.6 7.0 7.0 6.9 7.0 Revolving 0.0 5.1 5.5 6.7 19.6 12.8 19.6 28.8 29.1 29.3 29.3 23.5 23.4 Other 22.3 20.8 19.6 18.8 17.1 17.7 17.1 16.2 15.5 15.0 15.0 14.8 14.5 Real estate 114.8 129.7 150.3 174.0 198.9 193.8 198.9 202.0 208.5 213.1 213.1 217.8 210.8 One- to four-family 55.0 67.5 90.0 108.2 130.6 125.2 130.6 133.8 140.1 144.8 144.8 150.2 143.2 Other 30.6 29.0 31.2 37.6 41.7 40.2 41.7 42.3 42.2 42.6 42.6 42.1 42.3 Securitized real estate assets 8 One- to four-family 28.9 33.0 29.0 28.0 24.7 26.5 24.7 23.9 23.4 22.8 22.8 22.7 22.4 Other 0.4 0.2 0.1 0.2 1.9 1.9 1.9 1.9 2.8 2.9 2.9 2.9 2.9 Business 342.4 351.7 389.9 449.6 525.0 502.2 525.0 527.1 542.0 528.4 528.4 522.0 517.6 Motor vehicles 65.5 58.7 64.8 69.4 75.5 73.0 75.5 71.9 83.9 57.8 57.8 52.7 52.9 Retail loans 23.3 20.4 19.5 21.1 18.3 20.6 18.3 18.0 16.6 16.7 16.7 16.8 16.2 Wholesale loans 33.0 27.8 32.8 34.8 39.7 35.6 39.7 35.8 49.3 23.6 23.6 18.7 19.5 Leases 9.1 10.5 12.5 13.6 17.6 16.9 17.6 18.1 18.1 17.5 17.5 17.2 17.2 Equipment 192.9 198.0 212.2 238.7 283.5 274.1 283.5 283.4 292.6 288.2 288.2 290.6 287.3 Loans 61.6 56.8 59.2 64.5 70.2 69.6 70.2 71.4 76.1 76.8 76.8 79.9 77.1 Leases 131.2 141.2 153.0 174.2 213.3 204.5 213.3 212.0 216.4 211.4 211.4 210.7 210.2 Other business receivables 10 46.3 47.5 63.9 87.0 99.4 95.9 99.4 103.8 105.4 105.1 105.1 104.8 103.9 Securitized Assets 8 Motor vehicles 24.0 33.0 29.2 31.5 37.8 31.9 37.8 40.0 31.4 48.0 48.0 45.3 43.9 Retail loans 2.7 2.4 2.6 2.9 3.2 2.4 3.2 2.8 3.1 2.6 2.6 2.4 3.0 Wholesale loans 21.3 30.5 24.7 26.4 32.5 27.1 32.5 34.5 25.8 42.8 42.8 40.3 38.3 Leases 0.0 0.0 1.9 2.1 2.2 2.4 2.2 2.6 2.6 2.7 2.7 2.7 2.7 Equipment 11.3 10.7 13.0 14.6 23.1 21.4 23.1 22.5 22.6 23.1 23.1 22.5 23.4 Loans 4.7 4.2 6.6 7.9 15.5 15.1 15.5 14.6 15.2 15.1 15.1 14.5 15.5 Leases 6.6 6.5 6.4 6.7 7.6 6.4 7.6 7.9 7.5 8.0 8.0 8.0 7.9 Other business receivables 10 2.4 4.0 6.8 8.4 5.6 5.8 5.6 5.6 6.0 6.1 6.1 6.1 6.2 ---------------------------------------------------------------------------------------------------------------------------------------------- 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.