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The recipients want more deposits to fund lending: equipment leases in GE's case, car loans in Ally's, and credit cards for the others.
The company's report did highlight the growing importance of its huge financing division, GE Capital, which makes loans to businesses and consumers, finances equipment leases, and sells insurance.
A graduate of Chaminade High School, Fordham University and Harvard Law School, he was a private investor with interests in real estate and equipment leases.
In January, GE Capital provided Xerox with $435 million in financing backed by British equipment leases and in April, Xerox sold $370 million of its Scandinavian lease receivables.
Under the program, the Federal Reserve buys up securities backed by automobile loans, credit card debt and business debt including equipment leases and commercial real estate mortgages.
Another major effort, one to revive credit for everything from car loans to equipment leases, has also gotten off to a slow start.
Similar(28)
Equipment lease-backs can create tax burdens as well.
The bonds were issued to help finance Caterpillar's equipment leasing business in China.
The interest rate is comparable to the 10.8 percent I am paying on an equipment lease.
Her father is an equipment leasing and finance broker in Jericho.
Charter Financial, based in New York, provides loans for equipment leasing and financing to midsize businesses.
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