G.20 FINANCE COMPANIES 1 For immediate release December 2000 February 2001 OWNED AND MANAGED RECEIVABLES 2 --------------------------------------------------------------------------------------------------------------------------------------- 1999 2000 _______ _______________________________________________________ 1996 1997 1998 1999 2000 p Q4 Q1 Q2 Q3 Q4 p Oct r Nov r Dec p --------------------------------------------------------------------------------------------------------------------------------------- Seasonally Adjusted Growth Rates (percent at an annual rate) Total 11.7 6.3 8.1 13.5 14.5 8.7 14.7 12.8 13.1 9.5 15.8 1.3 9.3 Consumer 3 8.7 6.6 7.6 9.2 12.1 3.5 11.9 4.7 18.2 11.1 27.2 6.8 -1.5 Real estate 54.5 8.2 8.5 17.8 12.9 15.6 6.8 16.1 17.4 9.0 24.6 15.5 -13.0 Business 4.8 5.4 8.3 15.9 17.0 10.8 19.8 18.2 7.7 7.2 3.8 -8.0 25.9 Outstandings (billions of dollars) Total 762.4 810.5 875.8 993.9 1145.0 993.9 1043.6 1076.9 1112.1 1145.0 1134.9 1136.2 1145.0 Consumer 3 307.6 327.9 352.8 385.3 439.3 385.3 396.7 401.4 419.7 439.3 437.3 439.8 439.3 Real estate 111.9 121.1 131.4 154.7 174.7 154.7 157.4 163.7 170.9 174.7 174.4 176.6 174.7 Business 342.9 361.5 391.6 453.9 531.0 453.9 489.4 511.7 521.6 531.0 523.2 519.7 531.0 --------------------------------------------------------------------------------------------------------------------------------------- AUTO LOANS: TERMS OF CREDIT 4 --------------------------------------------------------------------------------------------------------------------------------------- Percent except as noted; not seasonally adjusted New car loans Interest Rates 9.84 7.12 6.30 6.66 6.61 7.27 7.09 6.43 7.06 5.87 4.74 5.41 7.45 Maturity (months) 51.6 54.1 52.1 52.7 54.9 53.5 52.9 54.3 55.7 56.7 57.6 57.3 55.2 Loan-to-value ratio 91 92 92 92 92 91 92 93 91 92 93 93 91 Amount financed (dollars) 16,987 18,077 19,083 19,880 20,923 20,517 20,368 20,504 20,694 22,126 22,069 22,443 21,867 Used car loans Interest Rates 13.53 13.27 12.64 12.60 13.55 13.28 13.22 13.52 13.75 13.70 13.87 13.66 13.58 Maturity (months) 51.4 51.0 53.5 55.9 57.0 55.8 57.1 57.2 57.1 56.8 57.0 56.8 56.6 Loan-to-value ratio 100 99 99 99 99 99 98 99 100 100 100 100 100 Amount financed (dollars) 12,182 12,281 12,691 13,642 14,058 13,787 13,724 14,083 14,128 14,298 13,978 14,325 14,591 --------------------------------------------------------------------------------------------------------------------------------------- 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 October includes previously unreported assets, and thus represents a break in this series. The October growth rate is adjusted to exclude these previously unreported assets. 4. 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 --------------------------------------------------------------------------------------------------------------------------------------------- 1999 2000 _______ _______________________________________________________ 1996 1997 1998 1999 2000 p Q4 Q1 Q2 Q3 Q4 p Oct r Nov r Dec p --------------------------------------------------------------------------------------------------------------------------------------------- Not Seasonally Adjusted Outstandings (billions of dollars) Total 769.7 818.1 884.0 1003.2 1155.7 1003.2 1046.5 1082.3 1106.8 1155.7 1132.9 1137.9 1155.7 Consumer 3 310.6 330.9 356.1 388.8 443.3 388.8 392.8 403.9 421.0 443.3 437.9 441.4 443.3 Motor vehicle loans 86.7 87.0 103.1 114.7 122.5 114.7 121.1 126.5 130.1 122.5 131.8 127.8 122.5 Motor vehicle leases 92.5 96.8 93.3 98.3 102.9 98.3 101.7 103.9 104.6 102.9 104.3 104.0 102.9 Revolving 5 32.5 38.6 32.3 33.8 38.3 33.8 31.5 33.1 35.4 38.3 37.1 38.0 38.3 Other 6 33.2 34.4 33.1 33.1 32.4 33.1 31.1 30.7 31.7 32.4 31.9 32.0 32.4 Securitized Assets 7 Motor vehicle loans 36.8 44.3 54.8 71.1 97.1 71.1 71.2 74.1 78.8 97.1 84.3 91.5 97.1 Motor vehicle leases 8.7 10.8 12.7 9.7 6.6 9.7 8.8 7.9 7.2 6.6 7.0 6.8 6.6 Revolving 0.0 0.0 8.7 10.5 27.5 10.5 10.3 11.1 17.2 27.5 25.8 25.8 27.5 Other 20.1 19.0 18.1 17.7 16.0 17.7 17.1 16.6 16.0 16.0 15.7 15.5 16.0 Real estate 111.9 121.1 131.4 154.7 174.7 154.7 157.4 163.7 170.9 174.7 174.4 176.6 174.7 One- to four-family 52.1 59.0 75.7 88.3 105.2 88.3 90.4 96.6 100.9 105.2 104.6 107.0 105.2 Other 30.5 28.9 26.6 38.3 42.9 38.3 38.4 39.6 41.5 42.9 42.1 42.7 42.9 Securitized real estate assets 7 One- to four-family 28.9 33.0 29.0 28.0 24.7 28.0 28.4 27.4 26.5 24.7 25.7 25.0 24.7 Other 0.4 0.2 0.1 0.2 1.9 0.2 0.2 0.2 1.9 1.9 1.9 1.9 1.9 Business 347.2 366.1 396.5 459.6 537.7 459.6 496.3 514.7 514.9 537.7 520.6 519.9 537.7 Motor vehicles 67.1 63.5 79.6 87.8 95.2 87.8 90.2 94.5 94.1 95.2 95.9 93.3 95.2 Retail loans 25.1 25.6 28.1 33.2 31.0 33.2 32.3 33.8 34.8 31.0 34.7 32.3 31.0 Wholesale loans 33.0 27.7 32.8 34.7 39.6 34.7 37.9 38.4 35.5 39.6 37.5 37.3 39.6 Leases 9.0 10.2 18.7 19.9 24.6 19.9 19.9 22.3 23.7 24.6 23.7 23.8 24.6 Equipment 194.8 203.9 198.0 221.9 267.3 221.9 238.0 250.0 256.7 267.3 259.4 259.3 267.3 Loans 59.9 51.5 50.4 52.2 56.2 52.2 54.9 56.7 55.8 56.2 56.1 54.7 56.2 Leases 134.9 152.3 147.6 169.7 211.1 169.7 183.1 193.3 200.9 211.1 203.3 204.6 211.1 Other business receivables 9 47.6 51.1 69.9 95.5 108.6 95.5 106.4 109.7 104.9 108.6 103.7 103.2 108.6 Securitized Assets 7 Motor vehicles 24.0 33.0 29.2 31.5 37.8 31.5 31.5 31.7 31.9 37.8 34.2 37.0 37.8 Retail loans 2.7 2.4 2.6 2.9 3.2 2.9 3.2 2.9 2.4 3.2 2.3 3.1 3.2 Wholesale loans 21.3 30.5 24.7 26.4 32.5 26.4 25.9 26.4 27.1 32.5 29.5 31.5 32.5 Leases 0.0 0.0 1.9 2.1 2.2 2.1 2.4 2.4 2.4 2.2 2.4 2.4 2.2 Equipment 11.3 10.7 13.0 14.6 23.1 14.6 22.0 22.3 21.4 23.1 21.7 21.3 23.1 Loans 4.7 4.2 6.6 7.9 15.5 7.9 15.4 15.8 15.1 15.5 14.9 14.6 15.5 Leases 6.6 6.5 6.4 6.7 7.6 6.7 6.5 6.4 6.4 7.6 6.7 6.7 7.6 Other business receivables 9 2.4 4.0 6.8 8.4 5.6 8.4 8.3 6.6 5.8 5.6 5.8 5.8 5.6 --------------------------------------------------------------------------------------------------------------------------------------------- 5. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies. 6. Includes personal cash loans, mobile home loans, and loans to purchase other types of consumer goods such as appliances, apparel, boats, and recreation vehicles. 7. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. 8. Credit arising from transactions between manufacturers and dealers, that is, floor plan financing. 9. 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.