Finance companies held more than $2.06 trillion in outstanding receivables during March, virtually flat from what they held during February but up 1.7% from nearly $2.03 trillion in March 2007.
On a seasonally adjusted basis, total outstanding receivables held by finance companies grew 0.6% in March, following an 8.9% increase in February, according to the Federal Reserve's monthly G.20 report, released Friday.
Consumer receivables increased 9.6%, after a 7.9% rise in February, and real estate receivables grew 3.2% after a 9.6% gain in February. Business receivables dropped by 14.5% in March, on a seasonally adjusted basis, the Fed reports.
The dollar value of consumer receivables held by finance companies during March totaled $895.4 billion, up 0.8% from $888.3 billion in February and up 7.0% from $837.2 billion in March 2007.
Real estate receivables held by finance companies in March totaled $568.5 billion, up 0.3% from February's $567.0 billion, but they fell 7.3% from $613.2 billion in March 2007.
Business receivables during February totaled $599.2 billion, slipping 1.2% from $606.5 billion in February but increasing 3.6% from $578.6 billion in March 2007.