ASSOCIATES FIRST CAPITAL CORP
8-K, 1995-10-17
PERSONAL CREDIT INSTITUTIONS
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<PAGE>





                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549





                                 FORM 8-K
                              CURRENT REPORT

  Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

   Date of Report (Date of earliest event) October 12, 1995





                  ASSOCIATES FIRST CAPITAL CORPORATION 
          (Exact name of registrant as specified in its charter)




            DELAWARE
(State or other jurisdiction of incorporation)        
                                                      
(Commission File Number)        2-44197
(I.R.S. Employer 
Identification Number)          06-0876639



250 E. Carpenter Freeway, Irving, Texas                          75062-2729
(Address of principal executive offices)                         (Zip Code)



Registrant's telephone number, including area code (214) 541-4000<PAGE>
<PAGE>
Item 5.  Other Events.

     On October 12, 1995, Ford Motor Company, the ultimate parent of the
Registrant, announced that it is reviewing its own possible strategic actions,
which could include a partial sale of the Registrant.  Ford has stated that
whether any transaction would occur, and the possible timing of any such
transaction, have not been determined.  A copy of the news release dated
October 12, 1995 issued by Ford Motor Company is attached as an Exhibit hereto
and incorporated by reference herein.

Item 7.  Financial Statements and Exhibits

(C)  Exhibits

     20 -    News release by Ford Motor Company dated October 12, 1995.


                                 SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                             ASSOCIATES FIRST CAPITAL CORPORATION 
                                   



                             By: /s/ James E. Jack
                             Senior Executive Vice President 
                             and Chief Financial Officer
                                         


Date: October 16, 1995<PAGE>
<PAGE>

                             INDEX TO EXHIBITS


                                                        
Exhibit                                                 
Number                                                  

20    -    News release by Ford Motor Company dated October 12, 1995.          
         



/TEXT
<PAGE>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-20
<SEQUENCE>2
<DESCRIPTION>NEWS RELEASE BY FORD MOTOR COMPANY 
              DATED OCTOBER 12, 1995

<PAGE>
FORD REVIEWING STRATEGY FOR FINANCE UNITS

     Dearborn, Mich., October 12 -- Ford Motor Company will file a Current
Report on Form 8-K with the Securities and Exchange Commission stating that
the company is reviewing possible strategic actions with respect to its
Financial Services Group.

     Such actions could include the partial or complete sale of USL Capital
and the partial sale of The Associates, the non-automotive financing
businesses in the Financial Services Group.

     "It is premature to determine whether any actions will occur or, if they
do, when they would occur," said Ken Whipple, president, Ford Financial
Services Group.  "We are carefully considering what is best for Ford Motor
Company and its shareholders."

     The non-automotive financing businesses of Ford's Financial Services
Group consist principally of the domestic and international activities of The
Associates, which specializes in consumer and commercial finance, and USL
Capital, which specializes in commercial leasing and financing.




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