June 22, 2015
Federal Reserve System begins 2015 Census of Finance Companies
For release at 3:00 p.m. EDT
The Federal Reserve System will begin its 2015 Census of Finance Companies in June, as part of a larger effort to paint a complete and continuing picture of this important sector of the U.S. economy.
"The Federal Reserve System conducts this census to collect basic information on the types and volume of financing provided by nonbank financial institutions to the U.S. economy," Federal Reserve Chair Janet L. Yellen said in a letter to prospective census participants.
The assets and liabilities of finance companies have been surveyed by the Federal Reserve at roughly five-year intervals since 1955. The data collected provide a benchmark for the System's monthly report on the outstanding accounts receivable of finance companies (presented in the Federal Reserve's Finance Companies statistical release) and provide a comprehensive update on these companies' sources of funds. This information in turn becomes an important input to the estimates of total consumer credit (presented in the Federal Reserve's Consumer Credit statistical release) and the Financial Accounts of the United States.
The attached letter from Chair Yellen was sent to approximately 37,000 companies urging their participation. Individual responses will be kept confidential. In addition to the Chair's letter, more information about the census is available at www.federalreserve.gov/financecocensus.
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