G.20 FINANCE COMPANIES 1 For immediate release June 2000 August 2000 OWNED AND MANAGED RECEIVABLES 2 --------------------------------------------------------------------------------------------------------------------------------------- 1999 2000 _______________________ _______________________________________ 1995 1996 1997 1998 1999 Q2 Q3 Q4 Q1 Q2 Apr May r Jun p --------------------------------------------------------------------------------------------------------------------------------------- Total 12.3 11.7 6.3 8.1 13.5 12.4 14.8 8.7 19.0 20.8 21.9 17.1 22.2 Consumer 15.3 8.7 6.6 7.6 9.2 10.1 10.2 3.5 11.9 5.0 3.7 8.4 3.0 Real estate 8.3 54.5 8.2 8.5 17.8 11.0 21.8 15.6 34.1 42.2 37.2 36.6 48.8 Business 10.8 4.8 5.4 8.3 15.9 15.0 16.5 10.8 19.8 26.1 31.4 17.3 28.0 Outstandings (billions of dollars) Total 682.7 762.4 810.5 875.8 993.9 938.1 972.8 993.9 1054.1 1108.8 1073.3 1088.7 1108.8 Consumer 283.1 307.6 327.9 352.8 385.3 372.4 381.9 385.3 396.7 401.7 398.0 400.7 401.7 Real estate 72.4 111.9 121.1 131.4 154.7 141.2 148.9 154.7 167.9 185.7 173.1 178.4 185.7 Business 327.2 342.9 361.5 391.6 453.9 424.5 442.0 453.9 489.4 521.4 502.2 509.5 521.4 --------------------------------------------------------------------------------------------------------------------------------------- AUTO LOANS: TERMS OF CREDIT 3 --------------------------------------------------------------------------------------------------------------------------------------- Percent except as noted; not seasonally adjusted New car loans Interest Rates 11.19 9.84 7.12 6.30 6.66 6.56 6.48 7.27 7.09 6.48 6.38 6.51 6.55 Maturity (months) 54.1 51.6 54.1 52.1 52.7 52.5 51.9 53.5 52.9 53.6 53.8 53.5 53.4 Loan-to-value ratio 92 91 92 92 92 92 92 91 92 93 93 93 93 Amount financed (dollars) 16,210 16,987 18,077 19,083 19,880 19,565 20,013 20,517 20,368 20,552 20,542 20,621 20,494 Used car loans Interest Rates 14.48 13.53 13.27 12.64 12.60 12.21 12.92 13.28 13.22 13.52 13.52 13.47 13.58 Maturity (months) 52.2 51.4 51.0 53.5 55.9 56.0 55.9 55.8 57.1 57.2 57.1 57.1 57.3 Loan-to-value ratio 99 100 99 99 99 99 100 99 98 99 98 99 99 Amount financed (dollars) 11,590 12,182 12,281 12,691 13,642 13,721 13,478 13,787 13,724 14,082 13,871 14,132 14,244 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 --------------------------------------------------------------------------------------------------------------------------------------------- 1999 2000 _______________________ _______________________________________ 1995 1996 1997 1998 1999 Q2 Q3 Q4 Q1 Q2 Apr May r Jun p --------------------------------------------------------------------------------------------------------------------------------------------- Not Seasonally Adjusted Outstandings (billions of dollars) Total 689.5 769.7 818.1 884.0 1003.2 942.9 968.4 1003.2 1057.0 1114.3 1073.6 1088.5 1114.3 Consumer 285.8 310.6 330.9 356.1 388.8 374.6 383.1 388.8 392.8 404.2 394.4 399.4 404.2 Motor vehicle loans 81.1 86.7 87.0 103.1 114.7 108.6 109.5 114.7 121.1 125.7 120.9 124.1 125.7 Motor vehicle leases 80.8 92.5 96.8 93.3 98.3 95.6 98.1 98.3 101.7 103.9 102.8 104.1 103.9 Revolving 4 28.5 32.5 38.6 32.3 33.8 32.4 30.7 33.8 31.5 33.1 31.9 31.6 33.1 Other 5 42.6 33.2 34.4 33.1 33.1 32.6 32.8 33.1 31.1 31.8 31.2 31.9 31.8 Securitized Assets 6 Motor vehicle loans 34.8 36.8 44.3 54.8 71.1 65.3 73.5 71.1 71.2 74.1 72.1 71.9 74.1 Motor vehicle leases 3.5 8.7 10.8 12.7 9.7 11.3 10.6 9.7 8.8 7.9 8.5 8.2 7.9 Revolving n.a. 0.0 0.0 8.7 10.5 9.7 10.2 10.5 10.3 11.1 10.1 11.1 11.1 Other 14.7 20.1 19.0 18.1 17.7 19.0 17.8 17.7 17.1 16.6 16.8 16.5 16.6 Real estate 72.4 111.9 121.1 131.4 154.7 141.2 148.9 154.7 167.9 185.7 173.1 178.4 185.7 One- to four-family n.a. 52.1 59.0 75.7 88.3 80.5 87.7 88.3 90.4 97.2 93.6 97.3 97.2 Other n.a. 30.5 28.9 26.6 38.3 33.0 34.6 38.3 38.4 39.6 39.0 39.4 39.6 Securitized real estate assets 6 One- to four-family n.a. 28.9 33.0 29.0 28.0 27.5 26.5 28.0 38.9 48.6 40.2 41.5 48.6 Other n.a. 0.4 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 Business 331.2 347.2 366.1 396.5 459.6 427.1 436.3 459.6 496.3 524.5 506.1 510.7 524.5 Motor vehicles 66.5 67.1 63.5 79.6 87.8 82.8 80.3 87.8 90.2 94.5 93.6 94.8 94.5 Retail loans 21.8 25.1 25.6 28.1 33.2 30.9 34.5 33.2 32.3 33.8 32.7 33.3 33.8 Wholesale loans 36.6 33.0 27.7 32.8 34.7 32.7 26.8 34.7 37.9 38.4 38.9 39.5 38.4 Leases 8.0 9.0 10.2 18.7 19.9 19.2 19.0 19.9 19.9 22.3 22.0 22.0 22.3 Equipment 188.0 194.8 203.9 198.0 221.9 208.3 208.0 221.9 238.0 250.9 243.1 247.3 250.9 Loans 58.5 59.9 51.5 50.4 52.2 53.3 48.2 52.2 54.9 56.7 55.6 55.9 56.7 Leases 129.4 134.9 152.3 147.6 169.7 155.1 159.8 169.7 183.1 194.2 187.5 191.5 194.2 Other business receivables 8 47.2 47.6 51.1 69.9 95.5 82.6 94.7 95.5 106.4 109.8 107.4 106.6 109.8 Securitized Assets 6 Motor vehicles 20.6 24.0 33.0 29.2 31.5 32.1 31.0 31.5 31.5 31.7 32.3 32.0 31.7 Retail loans 1.8 2.7 2.4 2.6 2.9 2.9 2.6 2.9 3.2 2.9 3.1 3.0 2.9 Wholesale loans 18.8 21.3 30.5 24.7 26.4 27.2 26.4 26.4 25.9 26.4 26.8 26.7 26.4 Leases n.a. 0.0 0.0 1.9 2.1 2.0 2.0 2.1 2.4 2.4 2.4 2.4 2.4 Equipment 8.2 11.3 10.7 13.0 14.6 13.3 14.6 14.6 22.0 31.1 21.7 21.5 31.1 Loans 5.3 4.7 4.2 6.6 7.9 6.7 7.7 7.9 15.4 15.8 15.2 15.0 15.8 Leases 2.8 6.6 6.5 6.4 6.7 6.6 6.9 6.7 6.5 15.2 6.5 6.5 15.2 Other business receivables 8 0.8 2.4 4.0 6.8 8.4 8.0 7.7 8.4 8.3 6.6 8.0 8.4 6.6 --------------------------------------------------------------------------------------------------------------------------------------------- 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.