FINANCE COMPANIES1

G.20

For immediate release

February 2003

April 2003

OWNED AND MANAGED RECEIVABLES2,3

1998

1999

2000

r

r

2001

r
2002

2001
r
Q4

r

Q1

r
Q2

2002
r
Q3

Q4

Dec

3.0
-1.9
9.5
5.4

1.0
-7.5
16.5
3.3

0.0
-1.3
12.7
-3.7

r

r

2003
r
p
Jan
Feb

Seasonally Adjusted
Growth Rates (percent at annual rate)
Total
Consumer
Real estate
Business
Outstandings (billions of dollars)
Total
Consumer
Real estate
Business

10.2
7.2
15.9
11.1

13.6
10.8
15.8
15.5

15.1
13.3
14.3
17.0

5.1
10.5
4.4
0.6

1.9
0.0
4.2
2.8

0.2
12.4
-10.2
-6.9

-1.7
3.5
-18.1
-0.3

5.2
5.8
9.7
2.9

2.1
12.9
-18.1
-0.1

-5.3
-18.3
4.8
3.1

907.0 1,030.4 1,185.5 1,246.6 1,270.2 1,246.6 1,241.3 1,257.5 1,267.0 1,270.2 1,270.2 1,272.4 1,266.8
370.0
409.8
464.3
513.3
513.1
513.3
517.8
525.4
522.9
513.1
513.1
518.6
510.7
150.3
174.0
198.9
207.7
216.5
207.7
198.3
203.1
207.9
216.5
216.5
213.2
214.0
386.7
446.6
522.3
525.6
540.6
525.6
525.2
529.1
536.2
540.6
540.6
540.6
542.0

AUTO LOANS: TERMS OF CREDIT4
Percent except as noted; not seasonally adjusted
New car loans
Interest rates
6.30
6.66
Maturity (months)
52.1
52.7
Loan-to-value ratio
92
92
Amount financed (dollars)
19,083 19,880
Used car loans
Interest rates
Maturity (months)
Loan-to-value ratio
Amount financed (dollars)

12.64
53.5
99
12,691

12.60
55.9
99
13,642

6.61
54.9
92
20,923

5.65
55.1
91
22,822

4.29
56.8
94
24,747

2.97
51.1
92
24,729

5.32
53.9
90
23,314

5.97
57.3
92
23,432

2.68
58.9
96
25,959

3.18
57.4
96
26,283

3.50
57.5
96
26,647

3.13
58.5
96
26,443

3.99
59.2
97
24,864

13.55
57.0
99
14,058

12.18
57.5
100
14,416

10.74
57.5
100
14,532

11.09
56.8
100
14,649

11.03
57.6
100
14,184

10.85
57.7
101
14,565

10.50
57.6
100
14,727

10.59
57.0
100
14,650

10.48
56.7
100
14,639

10.37
57.5
100
14,499

10.43
57.7
99
14,231

1. Includes finance company subsidiaries of bank holding companies but not of retailers and banks.
2. Seasonally adjusted data have been revised from January 1998 forward as a result of new seasonal factors.
3. 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.
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 RECEIVABLES3

1998

1999

2000

r

r

2001

r
2002

2001
r
Q4

r

Q1

r
Q2

2002
r
Q3

r

Q4

r

Dec

2003
r
p
Jan
Feb

Not Seasonally Adjusted
Outstandings (billions of dollars)
Total

912.7 1,036.4 1,192.1 1,253.7 1,277.6 1,253.7 1,244.4 1,264.4 1,260.7 1,277.6 1,277.6 1,275.0 1,267.1

Consumer
Motor vehicle loans
Motor vehicle leases
Revolving5
Other6
Securitized Assets6
Motor vehicle loans
Motor vehicle leases
Revolving
Other

372.5
113.5
96.6
31.9
37.9

412.7
129.2
102.9
32.5
39.8

468.3
141.6
108.2
37.6
40.7

518.1
173.9
103.5
31.5
31.1

518.4
160.2
83.3
38.9
33.1

518.1
173.9
103.5
31.5
31.1

514.3
171.9
97.5
28.0
32.4

524.9
170.3
96.4
32.1
33.2

522.8
176.5
88.5
37.3
32.3

518.4
160.2
83.3
38.9
33.1

518.4
160.2
83.3
38.9
33.1

519.9
160.8
85.2
38.4
30.9

511.0
158.7
81.9
38.9
33.2

54.8
12.7
5.5
19.6

73.1
9.7
6.7
18.8

97.1
6.6
19.6
17.1

131.9
6.8
25.0
14.3

151.9
5.7
31.1
14.0

131.9
6.8
25.0
14.3

136.4
6.5
26.5
15.1

142.4
6.2
29.2
15.0

138.9
6.0
29.1
14.4

151.9
5.7
31.1
14.0

151.9
5.7
31.1
14.0

154.3
5.7
30.4
14.2

148.7
5.6
30.1
13.8

Real estate
One- to four-family
Other
Securitized real estate assets7
One- to four-family
Other

150.3
90.0
31.2

174.0
108.2
37.6

198.9
130.6
41.7

207.7
120.1
41.2

216.5
135.0
39.5

207.7
120.1
41.2

198.3
120.4
36.8

203.1
121.8
38.7

207.9
126.5
39.0

216.5
135.0
39.5

216.5
135.0
39.5

213.2
132.6
39.0

214.0
133.3
39.4

29.0
0.1

28.0
0.2

24.7
1.9

40.7
5.7

39.7
2.2

40.7
5.7

39.7
1.4

40.9
1.7

40.1
2.2

39.7
2.2

39.7
2.2

39.4
2.2

39.1
2.2

Business
Motor vehicles
Retail loans
Wholesale loans8
Leases
Equipment
Loans
Leases
Other business receivables9
Securitized Assets6
Motor vehicles
Retail loans
Wholesale loans
Leases
Equipment
Loans
Leases
Other business receivables9

389.9
64.8
19.5
32.8
12.5
212.2
59.2
153.0
63.9

449.6
69.4
21.1
34.8
13.6
238.7
64.5
174.2
87.0

525.0
75.5
18.3
39.7
17.6
283.5
70.2
213.3
99.4

527.9
54.0
16.1
20.3
17.6
289.4
77.8
211.6
103.5

542.7
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5

527.9
54.0
16.1
20.3
17.6
289.4
77.8
211.6
103.5

531.9
58.0
17.1
22.8
18.0
284.2
81.5
202.7
100.8

536.5
59.9
17.0
25.8
17.1
288.0
78.9
209.2
101.5

530.0
56.9
17.6
23.3
15.9
289.2
82.8
206.4
99.4

542.7
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5

542.7
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5

541.9
58.5
15.9
26.7
16.0
286.4
80.1
206.2
109.5

542.1
58.7
15.2
27.5
16.0
293.6
80.9
212.6
102.1

29.2
2.6
24.7
1.9
13.0
6.6
6.4
6.8

31.5
2.9
26.4
2.1
14.6
7.9
6.7
8.4

37.8
3.2
32.5
2.2
23.1
15.5
7.6
5.6

50.1
5.1
42.5
2.5
23.2
16.4
6.8
7.7

50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.1

50.1
5.1
42.5
2.5
23.2
16.4
6.8
7.7

44.0
2.3
39.0
2.7
25.4
18.5
6.9
19.5

45.5
2.4
40.8
2.3
21.7
15.0
6.7
19.9

43.8
2.2
39.3
2.3
21.6
14.8
6.7
19.1

50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.1

50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.1

50.3
2.4
46.1
1.8
20.1
12.9
7.2
17.1

50.9
2.3
46.8
1.8
19.4
12.3
7.1
17.3

5.
6.
7.
8.
9.

Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies.
Includes personal cash loans, mobile home loans, and loans to purchase other types of consumer goods such as appliances, apparel, boats, and recreation vehicles.
Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator.
Credit arising from transactions between manufacturers and dealers, that is, floor plan financing.
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.