G.20 FINANCE COMPANIES 1 For immediate release May 2008 July 2008 OWNED AND MANAGED RECEIVABLES OUTSTANDING 2 Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 _______________________________ _______________________________ 2003 2004 2005 2006 2007 Q1 Q2 Q3 Q4 Q1 Mar Apr May p --------------------------------------------------------------------------------------------------------------------------------------- Percent change at annual rate 3 Total 8.5 10.5 6.4 6.0 1.7 2.9 -1.3 8.0 -2.5 3.4 -0.3 -9.9 -9.4 Consumer 14.8 8.5 5.1 5.7 8.2 9.2 8.6 10.8 3.4 1.7 3.7 -0.3 -0.6 Real estate 9.3 25.2 12.8 8.8 -7.3 -1.7 -19.8 2.2 -10.4 2.2 4.9 -23.0 -28.7 Business 0.9 2.2 2.5 3.7 2.1 -1.1 3.7 9.6 -3.6 7.0 -11.1 -11.8 -4.7 Amount: billions of dollars Total 1611.0 1780.7 1895.3 2009.3 2044.5 2023.9 2017.2 2057.5 2044.5 2061.8 2061.8 2044.7 2028.6 Consumer 679.6 737.1 774.6 818.4 885.9 837.3 855.3 878.5 885.9 889.7 889.7 889.5 889.1 Real estate 397.6 497.8 561.5 610.9 566.1 608.3 578.1 581.2 566.1 569.3 569.3 558.3 545.0 Business 533.8 545.8 559.1 580.0 592.4 578.3 583.8 597.8 592.4 602.7 602.7 596.8 594.5 --------------------------------------------------------------------------------------------------------------------------------------- AUTO LOANS: TERMS OF CREDIT 4 Percent except as noted: not seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------- New car loans Interest rates 3.81 4.92 6.02 4.99 4.87 4.99 5.08 4.85 4.55 4.85 4.19 4.54 5.82 Maturity (months) 61.3 60.7 60.0 63.0 62.0 61.3 61.7 62.1 62.9 62.6 62.3 63.1 64.0 Loan-to-value ratio 95 89 88 94 95 94 96 95 95 94 94 94 92 Amount financed (dollars) 26,295 24,888 24,133 26,620 28,287 27,586 27,702 28,349 29,512 28,174 28,173 27,397 24,579 Used car loans Interest rates 9.86 8.81 8.81 9.61 9.24 9.38 9.08 8.86 9.64 8.95 8.88 8.34 8.23 Maturity (months) 58.0 57.9 58.6 59.4 60.7 60.2 61.2 60.8 60.4 60.0 60.8 60.6 60.6 Loan-to-value ratio 100 99 98 99 100 100 102 101 98 96 96 96 97 Amount financed (dollars) 14,613 15,136 16,228 16,671 17,095 16,974 17,016 17,152 17,239 17,182 17,200 17,458 17,294 --------------------------------------------------------------------------------------------------------------------------------------- 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 series may contain breaks that result from discontinuities in source data. Growth rates are adjusted to exclude the effect of such breaks. 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 OUTSTANDING 2 (Billions of dollars) Not seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 _______________________________ _______________________________ 2003 2004 2005 2006 2007 Q1 Q2 Q3 Q4 Q1 Mar Apr May p --------------------------------------------------------------------------------------------------------------------------------------------- Total 1624.1 1795.4 1910.9 2026.2 2061.8 2015.7 2022.4 2052.0 2061.8 2054.0 2054.0 2040.3 2028.4 Consumer 686.1 743.9 781.4 825.4 893.5 830.8 849.1 883.3 893.5 882.9 882.9 883.0 881.8 Motor vehicle loans 250.1 298.3 278.0 259.8 262.9 254.2 254.0 261.9 262.9 255.7 255.7 257.0 256.1 Motor vehicle leases 79.0 74.1 85.3 106.0 122.9 110.7 116.3 120.5 122.9 124.9 124.9 125.5 125.3 Revolving 5 45.3 50.4 66.3 79.9 86.0 72.9 75.1 78.3 86.0 82.1 82.1 82.1 82.0 Other 6 97.7 143.7 172.3 194.7 234.9 205.3 214.2 228.5 234.9 244.7 244.7 244.8 244.7 Securitized assets 7 Motor vehicle loans 123.7 98.2 112.6 112.8 113.3 112.1 113.4 118.9 113.3 103.5 103.5 101.6 102.0 Motor vehicle leases 5.5 4.8 4.2 3.6 3.1 3.5 3.4 3.2 3.1 3.0 3.0 3.0 2.9 Revolving 33.8 23.1 14.9 15.9 25.6 20.9 24.3 25.9 25.6 25.4 25.4 25.4 25.4 Other 51.0 51.3 47.8 52.8 44.7 51.3 48.3 46.1 44.7 43.6 43.6 43.5 43.4 Real estate 400.6 501.3 565.0 614.8 569.8 599.7 583.4 579.3 569.8 561.2 561.2 554.2 545.2 One-to-four family 320.2 422.0 489.8 538.1 474.2 527.4 510.0 503.2 474.2 457.9 457.9 451.9 442.6 Other 50.0 54.0 51.6 56.2 59.1 52.5 53.2 57.2 59.1 67.8 67.8 67.0 67.3 Securitized assets 7 One-to-four family 26.7 21.8 18.9 16.8 34.9 15.7 15.4 15.2 34.9 34.7 34.7 34.6 34.5 Other 3.8 3.5 4.8 3.7 1.6 4.1 4.8 3.8 1.6 0.8 0.8 0.8 0.8 Business 537.4 550.2 564.5 586.0 598.6 585.2 589.9 589.4 598.6 609.9 609.9 603.1 601.4 Motor vehicles 69.6 84.8 105.5 105.1 105.7 106.3 108.3 104.2 105.7 107.8 107.8 109.2 111.3 Retail loans 15.7 15.1 15.2 17.1 16.4 17.8 18.1 18.0 16.4 15.3 15.3 15.2 15.1 Wholesale loans 8 39.3 44.9 61.2 55.7 56.9 56.3 56.9 53.2 56.9 60.7 60.7 62.1 64.5 Leases 14.6 24.8 29.0 32.3 32.4 32.2 33.3 33.0 32.4 31.9 31.9 31.8 31.8 Equipment 284.3 273.4 281.9 299.5 319.4 304.9 309.5 310.9 319.4 324.8 324.8 319.7 321.8 Loans 88.0 87.8 93.6 102.4 106.1 106.7 106.7 106.4 106.1 113.5 113.5 112.5 113.0 Leases 196.3 185.6 188.3 197.1 213.3 198.2 202.8 204.5 213.3 211.3 211.3 207.2 208.8 Other business receivables 9 87.8 93.3 91.8 93.5 94.4 94.2 91.5 92.9 94.4 100.8 100.8 100.4 98.3 Securitized assets 7 Motor vehicles 48.4 44.8 28.8 38.0 33.6 37.0 40.3 40.3 33.6 31.5 31.5 28.7 25.1 Retail loans 2.2 2.2 2.7 3.0 2.6 2.9 2.9 2.8 2.6 2.6 2.6 2.6 2.6 Wholesale loans 44.2 40.6 26.0 34.9 30.9 34.0 37.3 37.5 30.9 28.9 28.9 26.0 22.4 Leases 2.1 2.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Equipment 22.1 23.6 24.4 15.4 13.1 14.5 12.1 13.1 13.1 13.3 13.3 13.6 13.2 Loans 12.5 11.5 11.6 9.9 9.2 9.4 8.8 9.4 9.2 9.2 9.2 9.5 9.2 Leases 9.6 12.1 12.8 5.5 3.9 5.1 3.3 3.7 3.9 4.1 4.1 4.0 4.0 Other business receivables 9 25.1 30.2 32.2 34.6 32.4 28.3 28.2 28.1 32.4 31.7 31.7 31.6 31.6 --------------------------------------------------------------------------------------------------------------------------------------------- 5. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies. 6. 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. 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. r=revised. p=preliminary.