Survey of Finance Companies, 2015

Lisa Chen, Gregory E. Elliehausen and Mark Wicks

Federal Reserve Bulletin, 2018, vol. 104, issue 3

Abstract: Finance companies are nondepository financial firms whose primary business is providing debt and lease financing to consumers and businesses. This article reports findings from a Federal Reserve survey of the assets and liabilities of finance companies in 2015. While the finance company industry provides a wide variety of credit and lease products, the survey indicates that firms in the industry are highly specialized. Nearly all finance companies hold a majority of their assets in one type of credit--consumer, real estate, or business credit. Firms specializing in consumer loans and leases account for most loan and lease receivables at finance companies. The article also compares the 2015 findings with those from similar Federal Reserve surveys conducted in 2010 and 2005. Overall, finance company industry assets declined by 10 percent between 2015 and 2010. Declines in credit and lease financing outstanding were spread broadly across types of financing, with the exceptions of consumer motor vehicle and business equipment financing. In addition, the 2015 survey for the first time collected data on finance company revenue and costs. Revenue and costs reflect differences in the types of loan or lease products that individual companies offer.

Date: 2018
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DOI: 10.17016/bulletin.2018.104-3

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