G.20 FINANCE COMPANIES 1 For immediate release August 1999 October 1999 OWNED AND MANAGED RECEIVABLES 2 --------------------------------------------------------------------------------------------------------------------------------------- 1998 1999 _______________________ _______________________________________ 1994 1995 1996 1997 1998 Q2 Q3 Q4 Q1 Q2 Jun Jul Aug p --------------------------------------------------------------------------------------------------------------------------------------- Total 12.7 12.3 11.7 6.3 8.1 6.7 10.2 10.8 15.5 12.4 8.0 21.2 16.7 Consumer 16.4 15.3 8.7 6.6 7.6 6.0 11.3 11.5 11.9 10.1 9.4 11.4 17.4 Real estate 6.7 8.3 54.5 8.2 8.5 -2.3 26.2 8.0 18.4 11.0 -13.3 25.0 20.7 Business 11.1 10.8 4.8 5.4 8.3 10.3 4.1 11.0 17.9 15.0 14.0 28.6 14.7 Outstandings (billions of dollars) Total 607.7 682.7 762.4 810.5 875.8 831.6 852.8 875.8 909.8 938.1 938.1 954.7 967.9 Consumer 245.5 283.1 307.6 327.9 352.8 333.4 342.9 352.8 363.2 372.4 372.4 375.9 381.4 Real estate 66.9 72.4 111.9 121.1 131.4 120.9 128.8 131.4 137.5 141.2 141.2 144.2 146.7 Business 295.3 327.2 342.9 361.5 391.6 377.2 381.1 391.6 409.1 424.5 424.5 434.6 439.9 --------------------------------------------------------------------------------------------------------------------------------------- AUTO LOANS: TERMS OF CREDIT 3 --------------------------------------------------------------------------------------------------------------------------------------- Percent except as noted; not seasonally adjusted New car loans Interest Rates 9.79 11.19 9.84 7.12 6.30 6.10 6.05 6.52 6.32 6.56 6.60 6.70 6.28 Maturity (months) 54.0 54.1 51.6 54.1 52.1 50.8 52.6 52.7 52.8 52.5 52.3 52.0 51.7 Loan-to-value ratio 92 92 91 92 92 91 93 92 92 92 92 92 92 Amount financed (dollars) 15,375 16,210 16,987 18,077 19,083 18,864 19,060 19,507 19,424 19,565 19,722 19,874 20,012 Used car loans Interest Rates 13.49 14.48 13.53 13.27 12.64 12.71 12.61 12.44 11.99 12.21 12.31 12.69 12.96 Maturity (months) 50.2 52.2 51.4 51.0 53.5 53.3 54.2 54.3 56.0 56.0 56.0 56.1 55.8 Loan-to-value ratio 99 99 100 99 99 99 101 100 99 99 99 100 100 Amount financed (dollars) 10,709 11,590 12,182 12,281 12,691 12,674 12,624 13,076 13,585 13,721 13,816 13,604 13,374 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. 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 2 --------------------------------------------------------------------------------------------------------------------------------------------- 1998 1999 _______________________ _______________________________________ 1994 1995 1996 1997 1998 Q2 Q3 Q4 Q1 Q2 Jun Jul Aug p --------------------------------------------------------------------------------------------------------------------------------------------- Not Seasonally Adjusted Outstandings (billions of dollars) Total 613.5 689.5 769.7 818.1 884.0 836.0 849.0 884.0 911.9 942.9 942.9 948.9 962.7 Consumer 248.0 285.8 310.6 330.9 356.1 335.4 344.0 356.1 359.7 374.6 374.6 378.1 382.5 Motor vehicle loans 70.2 81.1 86.7 87.0 103.1 89.9 96.2 103.1 104.7 108.6 108.6 108.5 112.7 Motor vehicle leases 67.5 80.8 92.5 96.8 93.3 97.0 94.9 93.3 93.9 95.6 95.6 97.0 98.3 Revolving 4 25.9 28.5 32.5 38.6 32.3 29.9 28.4 32.3 31.2 32.4 32.4 32.8 33.0 Other 5 38.4 42.6 33.2 34.4 33.1 34.4 34.6 33.1 32.0 32.6 32.6 32.0 32.1 Securitized Assets 6 Motor vehicle loans 32.8 34.8 36.8 44.3 54.8 49.3 51.8 54.8 59.0 65.3 65.3 68.3 68.0 Motor vehicle leases 2.2 3.5 8.7 10.8 12.7 10.9 14.2 12.7 12.0 11.3 11.3 11.1 10.8 Revolving n.a. n.a. 0.0 0.0 8.7 5.3 5.3 8.7 9.1 9.7 9.7 9.9 9.4 Other 11.2 14.7 20.1 19.0 18.1 18.6 18.8 18.1 17.8 19.0 19.0 18.4 18.1 Real estate 66.9 72.4 111.9 121.1 131.4 120.9 128.8 131.4 137.5 141.2 141.2 144.2 146.7 One- to four-family n.a. n.a. 52.1 59.0 75.7 62.3 68.4 75.7 77.7 80.5 80.5 83.6 86.0 Other n.a. n.a. 30.5 28.9 26.6 27.5 30.1 26.6 31.6 33.0 33.0 33.1 33.7 Securitized real estate assets 6 One- to four-family n.a. n.a. 28.9 33.0 29.0 30.9 30.2 29.0 28.0 27.5 27.5 27.2 26.8 Other n.a. n.a. 0.4 0.2 0.1 0.1 0.1 0.1 0.3 0.2 0.2 0.2 0.2 Business 298.6 331.2 347.2 366.1 396.5 379.7 376.2 396.5 414.8 427.1 427.1 426.7 433.5 Motor vehicles 62.0 66.5 67.1 63.5 79.6 68.4 65.5 79.6 84.8 82.8 82.8 78.8 78.6 Retail loans 18.5 21.8 25.1 25.6 28.1 29.2 30.0 28.1 30.0 30.9 30.9 31.7 33.3 Wholesale loans 35.2 36.6 33.0 27.7 32.8 28.2 24.2 32.8 36.0 32.7 32.7 27.9 26.8 Leases 8.3 8.0 9.0 10.2 18.7 11.0 11.3 18.7 18.8 19.2 19.2 19.3 18.5 Equipment 166.7 188.0 194.8 203.9 198.0 212.8 210.8 198.0 202.3 208.3 208.3 208.5 210.5 Loans 48.9 58.5 59.9 51.5 50.4 52.7 47.9 50.4 51.6 53.3 53.3 52.9 53.1 Leases 117.8 129.4 134.9 152.3 147.6 160.2 162.9 147.6 150.7 155.1 155.1 155.6 157.4 Other business receivables 8 46.2 47.2 47.6 51.1 69.9 53.7 58.9 69.9 75.7 82.6 82.6 89.2 92.7 Securitized Assets 6 Motor vehicles 14.3 20.6 24.0 33.0 29.2 29.1 24.5 29.2 31.0 32.1 32.1 28.4 30.4 Retail loans 1.5 1.8 2.7 2.4 2.6 2.3 2.0 2.6 2.4 2.9 2.9 2.8 2.7 Wholesale loans 12.9 18.8 21.3 30.5 24.7 26.7 22.5 24.7 26.6 27.2 27.2 23.5 25.7 Leases n.a. n.a. 0.0 0.0 1.9 0.0 0.0 1.9 1.9 2.0 2.0 2.0 2.0 Equipment 8.9 8.2 11.3 10.7 13.0 10.5 11.3 13.0 12.8 13.3 13.3 13.8 13.5 Loans 4.7 5.3 4.7 4.2 6.6 4.1 4.9 6.6 6.1 6.7 6.7 7.1 6.9 Leases 4.2 2.8 6.6 6.5 6.4 6.4 6.4 6.4 6.7 6.6 6.6 6.7 6.6 Other business receivables 8 0.5 0.8 2.4 4.0 6.8 5.3 5.3 6.8 8.2 8.0 8.0 7.9 7.8 --------------------------------------------------------------------------------------------------------------------------------------------- 4. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies. 5. Includes personal cash loans, mobile home loans, and loans to purchase other types of consumer goods such as appliances, apparel, boats, and recreation vehicles. 6. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. 7. Credit arising from transactions between manufacturers and dealers, that is, floor plan financing. 8. 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.