UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Stillo, John F.
250 East Carpenter Freeway
Irving, TX 75062-2729
USA
2. Issuer Name and Ticker or Trading Symbol
Associates First Capital Corporation
AFS
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
12/1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President, Comptroller and Principal Accounting Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Class A Common Stock |12/15/|J (1|V|2.216 |A |$68.38 | |I |By 401(k) Plan |
|97 |) | | | | | | | |
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Class A Common Stock |12/30/|J (1|V|2.125 |A |$72.00 |1,876.319 (2) |I |By 401(k) Plan |
|97 |) | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Phantom Stock Units |1-for-1 |12/19|J (3|V|A |A |(3) |(3) |Class A Comm|.559 |$68.38 | |D | |
| |/97 |) | | | | | |on Stock | | | | | |
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Phantom Stock Units |1-for-1 |12/30|J (3|V|A |A |(3) |(3) |Class A Comm|.531 |$72.00 |24.131 |D | |
| |/97 |) | | | | | |on Stock | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
1. The acquisition of these shares was made under the exemption provided by
Rule 16b-3(c).
2. These shares are included within the 1,876.319 Units acquired under the
exemption provided by Rule 16b-3(c).
3. The reported phantom stock units were acquired pursuant to the company's
excess benefit plan and will be settled upon the reporting person's
retirement or other termination of service. The acquisition of these units was
made under the exemption provided by Rule 16b-3(c).
SIGNATURE OF REPORTING PERSON
Frederic C. Liskow on behalf of John F. Stillo
DATE
January 9, 1997
