G.20 FINANCE COMPANIES 1 For immediate release November 2008 January 2009 OWNED AND MANAGED RECEIVABLES OUTSTANDING 2,3 Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 _______________ _______________________________________________ 2003 2004 2005 2006 2007 Q3 Q4 Q1 Q2 Q3 Sep Oct Nov p --------------------------------------------------------------------------------------------------------------------------------------- Percent change at annual rate 4 Total 8.5 10.5 6.4 6.0 2.0 6.7 -1.3 3.8 -5.7 -5.8 -9.7 -11.9 -16.6 Consumer 14.8 8.4 5.1 5.7 8.0 10.5 4.7 -0.2 -2.2 -5.2 -7.6 -15.4 -12.5 Real estate 9.3 25.2 12.8 8.8 -6.9 -0.2 -12.0 2.0 -28.8 -16.3 -9.8 -13.8 -30.3 Business 0.9 2.3 2.5 3.6 2.9 8.2 0.1 11.5 10.8 2.1 -12.3 -5.7 -11.2 Amount: billions of dollars Total 1611.4 1781.0 1895.4 2009.0 2048.9 2055.8 2048.9 2068.6 2039.2 2009.5 2009.5 1989.6 1962.1 Consumer 680.4 737.9 775.2 819.4 885.0 874.7 885.0 884.7 879.9 868.4 868.4 857.2 848.3 Real estate 396.9 496.9 560.4 609.9 567.6 585.0 567.6 570.4 529.4 507.8 507.8 502.0 489.3 Business 534.1 546.2 559.7 579.8 596.4 596.1 596.4 613.5 630.0 633.3 633.3 630.3 624.5 --------------------------------------------------------------------------------------------------------------------------------------- AUTO LOANS: TERMS OF CREDIT 5 Percent except as noted: not seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------- New car loans Interest rates 3.81 4.92 6.02 4.99 4.87 4.85 4.55 4.85 5.28 4.87 6.24 6.41 6.43 Maturity (months) 61.3 60.7 60.0 63.0 62.0 62.1 62.9 62.6 63.5 65.4 64.3 63.9 63.2 Loan-to-value ratio 95 89 88 94 95 95 95 94 93 89 85 86 88 Amount financed (dollars) 26,295 24,888 24,133 26,620 28,287 28,349 29,512 28,174 25,493 26,643 25,427 25,391 25,041 Used car loans Interest rates 9.86 8.81 8.81 9.61 9.24 8.86 9.64 8.95 8.31 8.44 8.46 8.52 9.43 Maturity (months) 58.0 57.9 58.6 59.4 60.7 60.8 60.4 60.0 60.4 59.8 59.4 59.3 58.5 Loan-to-value ratio 100 99 98 99 100 101 98 96 96 97 98 99 100 Amount financed (dollars) 14,613 15,136 16,228 16,671 17,095 17,152 17,239 17,132 16,853 16,474 16,296 16,252 15,970 --------------------------------------------------------------------------------------------------------------------------------------- 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. Seasonally adjusted series have been revised from January 1998 forward as a result of new seasonal factors. 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. OWNED AND MANAGED RECEIVABLES OUTSTANDING 2 (Billions of dollars) Not seasonally adjusted ---------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 _______________ _______________________________________________ 2003 2004 2005 2006 2007 Q3 Q4 Q1 Q2 Q3 Sep Oct Nov p ---------------------------------------------------------------------------------------------------------------------------------------------- Total 1624.1 1795.4 1910.9 2025.4 2065.6 2051.4 2065.6 2061.9 2038.6 2005.1 2005.1 1991.1 1970.4 Consumer 686.1 743.9 781.4 825.4 891.1 880.3 891.1 877.9 874.5 873.9 873.9 864.9 854.8 Motor vehicle loans 250.1 298.3 278.0 259.8 261.5 260.8 261.5 254.0 250.2 258.5 258.5 255.1 252.7 Motor vehicle leases 79.0 74.1 85.3 106.0 122.9 120.5 122.9 124.9 121.9 118.5 118.5 116.2 113.9 Revolving 6 45.3 50.4 66.3 79.9 86.0 78.3 86.0 82.1 84.0 83.3 83.3 82.3 82.1 Other 7 97.7 143.7 172.3 194.7 236.5 228.5 236.5 244.7 247.6 254.4 254.4 253.7 252.5 Securitized assets 8 Motor vehicle loans 123.7 98.2 112.6 112.8 110.7 117.0 110.7 100.2 101.0 90.7 90.7 89.2 85.5 Motor vehicle leases 5.5 4.8 4.2 3.6 3.1 3.2 3.1 3.0 2.9 2.8 2.8 2.8 2.7 Revolving 33.8 23.1 14.9 15.9 25.6 25.9 25.6 25.4 24.5 24.7 24.7 24.7 24.7 Other 51.0 51.3 47.8 52.8 44.7 46.1 44.7 43.6 42.4 41.0 41.0 40.9 40.9 Real estate 400.6 501.3 565.0 614.8 572.4 581.7 572.4 565.9 528.4 505.0 505.0 501.2 491.7 One-to-four family 320.2 422.0 489.8 538.1 472.7 503.2 472.7 458.0 420.5 395.2 395.2 391.6 382.2 Other 50.0 54.0 51.6 56.2 59.1 57.2 59.1 67.8 71.1 73.4 73.4 73.3 73.3 Securitized assets 8 One-to-four family 26.7 21.8 18.9 16.8 34.9 15.2 34.9 34.7 31.4 31.2 31.2 31.1 31.1 Other 3.8 3.5 4.8 3.7 5.6 6.2 5.6 5.4 5.4 5.2 5.2 5.2 5.2 Business 537.4 550.2 564.5 585.2 602.2 589.4 602.2 618.1 635.7 626.2 626.2 625.0 623.8 Motor vehicles 69.6 84.8 105.5 105.1 105.7 104.2 105.7 107.8 112.8 97.3 97.3 96.4 96.9 Retail loans 15.7 15.1 15.2 17.1 16.4 18.0 16.4 15.3 14.7 14.1 14.1 14.0 13.7 Wholesale loans 9 39.3 44.9 61.2 55.7 56.9 53.2 56.9 60.7 64.5 52.4 52.4 51.7 52.5 Leases 14.6 24.8 29.0 32.3 32.4 33.0 32.4 31.9 33.6 30.8 30.8 30.7 30.6 Equipment 284.3 273.4 281.9 299.5 328.2 310.8 328.2 333.4 347.2 356.5 356.5 354.0 351.9 Loans 88.0 87.8 93.6 102.4 111.4 106.4 111.4 115.9 113.5 119.0 119.0 117.7 115.6 Leases 196.3 185.6 188.3 197.1 216.9 204.5 216.9 217.4 233.7 237.5 237.5 236.3 236.3 Other business receivables 10 87.8 93.3 91.8 93.5 89.0 92.9 89.0 100.8 103.9 103.2 103.2 103.9 103.3 Securitized assets 8 Motor vehicles 48.4 44.8 28.8 38.0 33.6 40.3 33.6 31.4 23.6 26.1 26.1 28.4 29.8 Retail loans 2.2 2.2 2.7 3.0 2.6 2.8 2.6 2.6 2.5 2.4 2.4 2.4 2.4 Wholesale loans 44.2 40.6 26.0 34.9 30.9 37.5 30.9 28.7 21.1 23.7 23.7 25.9 27.3 Leases 2.1 2.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Equipment 22.1 23.6 24.4 15.4 13.3 13.1 13.3 13.0 13.7 11.6 11.6 11.3 11.2 Loans 12.5 11.5 11.6 9.9 9.4 9.4 9.4 9.0 9.5 7.6 7.6 7.4 7.2 Leases 9.6 12.1 12.8 5.5 3.9 3.7 3.9 4.1 4.2 3.9 3.9 3.9 3.9 Other business receivables 10 25.1 30.2 32.2 33.8 32.4 28.1 32.4 31.7 34.5 31.4 31.4 30.9 30.8 ---------------------------------------------------------------------------------------------------------------------------------------------- 6. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies. 7. Includes student loans, 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. r=revised. p=preliminary.