G.

20
For immediate release

FINANCE COMPANIES 1
March 2004

May 2004
OWNED AND MANAGED RECEIVABLES 2
-------------------------------------------------------------------------------------------------------------------------------------2003

2004

__________

_____________________ _______________________________
1999
2000
2001
2002
2003 r
Q1
Q2
Q3
Q4 r
Q1 p
Jan r
Feb r
Mar p
-------------------------------------------------------------------------------------------------------------------------------------Seasonally Adjusted
Growth Rates (percent at an annual rate) 3
Total
13.6
15.8
4.6
2.3
4.4
1.7
0.6
9.0
6.0
6.9
3.9
8.7
8.0
Consumer
10.7
15.2
9.2
0.8
4.5
2.0
-4.0
14.9
5.1
4.8
13.5
-5.8
6.7
Real estate
15.8
14.3
4.4
4.7
10.2
-5.9
17.6
18.6
9.5
7.0
20.6
11.2
-10.9
Business
15.5
17.0
0.6
2.9
1.9
4.4
-1.7
-0.6
5.4
9.0
-12.8
22.3
17.6
Outstandings (billions of dollars)
Total
1030.4 1193.3 1248.7 1277.5 1333.3 1282.9
1284.8 1313.7 1333.3 1356.4 1337.7 1347.4 1356.4
Consumer
409.7
472.0
515.2
519.1
542.5
521.7
516.5
535.7
542.5
549.0
548.6
546.0
549.0
Real estate
174.0
198.9
207.7
217.4
239.6
214.2
223.6
234.0
239.6
243.8
243.7
246.0
243.8
Business
446.6
522.5
525.8
541.0
551.2
547.1
544.7
543.9
551.2
563.6
545.3
555.5
563.6
-------------------------------------------------------------------------------------------------------------------------------------AUTO LOANS: TERMS OF CREDIT 4
-------------------------------------------------------------------------------------------------------------------------------------Percent except as noted; not seasonally adjusted
New car loans
Interest rates
6.66
6.61
5.65
2.61
3.55
3.80
3.24
3.20
3.00
3.51

4.29

3.40

3.65

Maturity (months)
63.0
62.5
59.7
Loan-to-value ratio
97
94
94
94
Amount financed (dollars)
27,468 25,733 26,493 26,470

52.7
59.9
92
94
19,880
27,240

54.9
59.6
92
94
20,923
26,296

Used car loans
Interest rates
9.85
9.57
9.14
9.21
Maturity (months)
57.7
57.8
57.0
56.5
Loan-to-value ratio
99
100
100
99
Amount financed (dollars)
14,537 14,654 14,935 15,857

12.60
9.22
55.9
56.4
99
99
13,643
14,535

13.55
12.18
9.29
9.14
57.0
57.5
56.6
56.7
99
100
99
100
14,058 14,416
14,434 18,603

61.1

55.1
59.5
91
93
22,822
25,873

56.8

61.4

59.1

94

95

96

24,747

26,295

25,486

10.74

9.72

10.32

57.5

57.5

57.7

100

100

99

14,532

14,613

14,328

-------------------------------------------------------------------------------------------------------------------------------------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 2
-------------------------------------------------------------------------------------------------------------------------------------------2003

2004
____

___________________________ _______________________________

1999
2000
2001
2002
2003 r
Q1
Q2
Q3
Q4 r
Q1 p
Jan r
Feb r
Mar p
-------------------------------------------------------------------------------------------------------------------------------------------Not Seasonally Adjusted
Outstandings (billions of dollars)
Total

1036.4

1199.8

1255.3

1284.3

1340.4

1284.9

1292.7

1309.3

1340.4

Consumer
518.0
516.2
536.3
547.7
Motor vehicle loans
155.9
166.6
196.7
197.0
Motor vehicle leases
81.8
76.7
75.4
70.0
Revolving 5
36.3
34.6
37.3
37.6
Other 6
40.9
43.1
50.1
60.9
Securitized Assets 7
Motor vehicle loans
152.1
146.5
129.6
132.8
Motor vehicle leases
6.2
6.0
5.7
5.5
Revolving
30.7
29.5
28.9
31.6
Other
13.9
13.3
12.7
12.2

1358.3

1338.7

1345.8

1358.3

412.8
549.4
129.2
199.0
102.9
68.9
32.5
39.3
39.9
63.9

475.9
545.3
141.6
201.2
108.2
67.6
37.6
38.3
41.3
64.2

519.7
545.1
173.9
202.4
103.5
66.6
31.5
37.6
32.7
67.2

523.9

547.7

160.2

197.0

83.3

70.0

38.9

37.6

38.7

60.9

73.1
129.8
9.7
5.5
6.7
31.1
18.8
12.0

97.1
126.2
6.6
5.4
27.5
30.6
16.0
11.7

131.9
122.8
6.8
5.3
25.0
31.5
14.3
11.6

151.9

132.8

5.7

5.5

31.1

31.6

14.0

12.2

Real estate
174.0
214.2
223.6
234.0
239.6
243.8
243.7
One- to four-family
108.2
133.9
142.5
151.8
152.2
159.5
156.5
Other
37.6
40.1
40.9
42.8
46.7
46.7
46.8
Securitized real estate assets 7
One- to four-family
28.0
39.2
38.4
37.6
36.9
36.1
36.6
Other
0.2
1.1
1.8
1.8
3.8
1.5
3.8

198.9
246.0
130.6
158.7
41.7
47.0

207.7
243.8
120.1
159.5
41.2
46.7

217.4

239.6

135.0

152.2

39.5

46.7

24.7
36.4
1.9
3.8

40.7
36.1
5.7
1.5

39.7

36.9

3.2

3.8

Business
552.8
552.9
539.0
553.1
569.5
Motor vehicles
65.3
69.9
62.2
74.9
88.8
Retail loans
16.3
17.2
18.1
18.2
16.6
Wholesale loans 8
34.0
38.4
30.5
40.3
48.1
Leases
15.0
14.2
13.6
16.3
24.1
Equipment
287.5
283.4
278.2
277.6
275.2
Loans
78.0
77.5
73.1
74.6
75.7
Leases
209.5
205.9
205.1
203.1
199.5
Other business receivables 9
101.1
102.6
105.1
105.0
111.6
Securitized Assets 7
Motor vehicles
53.1
50.0
47.2
48.4
48.4
Retail loans
2.2
2.2
2.2
2.2
2.2
Wholesale loans

449.6
545.5
69.4
72.4
21.1
17.5
34.8
38.7
13.6
16.3
238.7
272.4
64.5
74.3
174.2
198.1
87.0
103.5

525.0
554.5
75.5
75.9
18.3
17.0
39.7
42.7
17.6
16.3
283.5
272.8
70.2
74.6
213.3
198.1
99.4
108.2

527.9
569.5
54.0
88.8
16.1
16.6
20.3
48.1
17.6
24.1
289.4
275.2
77.8
75.7
211.6
199.5
103.5
111.6

543.0

553.1

60.7

74.9

15.4

18.2

29.3

40.3

16.0

16.3

292.1

277.6

83.3

74.6

208.8

203.1

102.5

105.0

31.5
50.5
2.9
2.2
26.4

37.8
51.0
3.2
2.2
32.5

50.1
48.4
5.1
2.2
42.5

50.2

48.4

2.4

2.2

45.9

44.2

545.1
202.4
66.6
37.6
67.2
122.8
5.3
31.5
11.6

48.6

45.6
42.8
44.2
44.1
46.2
46.7
44.1
Leases
2.1
2.2
2.5
1.9
2.1
2.2
2.1
2.1
2.1
2.1
2.1
2.1
2.1
Equipment
14.6
23.1
23.2
20.2
22.1
21.9
23.5
22.3
22.1
20.1
21.7
21.5
20.1
Loans
7.9
15.5
16.4
13.0
12.5
12.2
12.9
13.2
12.5
11.6
12.1
12.0
11.6
Leases
6.7
7.6
6.8
7.2
9.6
9.7
10.6
9.1
9.6
8.5
9.6
9.5
8.5
Other business receivables 9
8.4
5.6
7.7
17.4
25.1
23.9
23.6
23.9
25.1
25.4
25.0
25.1
25.4
-------------------------------------------------------------------------------------------------------------------------------------------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.