FINANCE COMPANIES1

G.20

For immediate release

December 2002

February 2003

OWNED AND MANAGED RECEIVABLES2
2001
1998

1999

2000

2001

2002

p

Q4

Q1

Q2

r

2002
p
Q4

Oct

Nov

3.1
-3.2
9.5
6.9

1.3
-4.6
16.5
1.3

-0.8
-8.3
21.4
-2.1

3.7
-6.3
13.1
9.5

Q3

r

r

Dec

p

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

10.3
7.3
15.9
11.1

13.6
10.8
15.8
15.5

15.1
13.4
14.3
17.0

5.2
10.6
4.4
0.6

1.9
0.0
4.2
2.8

0.5
15.0
-10.2
-8.5

-2.8
3.1
-18.1
-2.6

6.0
4.9
9.7
5.7

1.2
0.7
14.3
-3.4

907.3 1,031.1 1,187.0 1,248.5 1,272.3 1,248.5 1,239.7 1,258.3 1,268.0 1,272.3 1,267.2 1,271.0 1,272.3
370.1
410.2
465.2
514.6
514.7
514.6
518.7
525.0
520.8
514.7
517.2
514.4
514.7
150.3
174.0
198.9
207.7
216.5
207.7
198.3
203.1
207.9
216.5
211.6
213.9
216.5
386.9
446.9
522.8
526.2
541.1
526.2
522.7
530.2
539.4
541.1
538.4
542.7
541.1

AUTO LOANS: TERMS OF CREDIT3
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
56.9
93
24,752

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

3.19
57.4
96
26,303

2.79
57.2
96
26,232

3.31
57.2
95
26,266

3.48
57.7
96
26,411

13.55
57.0
99
14,058

12.18
57.5
100
14,416

10.73
57.5
100
14,533

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

10.54
57.0
100
14,658

10.67
57.3
100
14,713

10.49
56.9
100
14,619

10.47
56.7
100
14,641

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.
these previously unreported assets.
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 RECEIVABLES2
2001
1998

1999

2000

2001

2002

p

Q4

Q1

Q2

Q3

r

2002
p
Q4

r

Oct

Nov

r

Dec

p

Not Seasonally Adjusted
Outstandings (billions of dollars)
Total

912.7 1,036.4 1,192.2 1,253.7 1,277.5 1,253.7 1,244.4 1,264.4 1,260.7 1,277.5 1,262.0 1,265.1 1,277.5

Consumer
Motor vehicle loans
Motor vehicle leases
Revolving4
Other5
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

518.3
160.6
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

518.3
160.6
83.3
38.9
33.1

518.9
169.9
86.7
37.4
31.3

517.7
159.9
85.2
37.2
31.4

518.3
160.6
83.3
38.9
33.1

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

151.6
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

151.6
5.7
31.1
14.0

144.1
5.9
29.2
14.4

153.9
5.8
30.2
14.2

151.6
5.7
31.1
14.0

Real estate
One- to four-family
Other
Securitized real estate assets6
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

211.6
130.5
38.8

213.9
132.8
39.0

216.5
135.0
39.5

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

40.1
2.2

39.9
2.2

39.7
2.2

Business
Motor vehicles
Retail loans
Wholesale loans7
Leases
Equipment
Loans
Leases
Other business receivables8
Securitized Assets6
Motor vehicles
Retail loans
Wholesale loans
Leases
Equipment
Loans
Leases
Other business receivables8

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

542.8
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

542.8
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5

531.5
57.4
18.1
23.5
15.9
287.2
80.9
206.4
96.7

533.4
58.3
15.9
26.7
15.8
286.0
80.2
205.8
95.3

542.8
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5

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

47.0
1.9
42.8
2.3
23.9
17.2
6.7
19.2

50.4
2.5
45.6
2.3
24.3
17.6
6.7
19.2

50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.1

4.
5.
6.
7.
8.

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.