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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Crowley, Jr., A. William
250 E. Carpenter Freeway
Irving, TX 75062
2. Date of Event Requiring Statement (Month/Day/Year)
11/16/1998
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Associates First Capital Corporation
AFS
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President
6. If Amendment, Date of Original (Month/Day/Year)
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 Beneficially Owned
|
______________________________________________________________________________
_____________________________________________________|
1. Title of Security |2. Amount of |3.
Ownership |4. Nature of Indirect |
| Securities | Form:
| Beneficial Ownership |
| Beneficially |
Direct(D) or | |
| Owned |
Indirect(I) | |
______________________________________________________________________________
_____________________________________________________|
<S> <C> <C>
<C>
No Securities Owned | |
| |
- ------------------------------------------------------------------------------
- -----------------------------------------------------|
______________________________________________________________________________
_____________________________________________________|
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______________________________________________________________________________
_____________________________________________________
Table II -- Derivative Securitites Beneficially Owned
|
______________________________________________________________________________
_____________________________________________________|
1.Title of Derivative |2.Date Exer- |3.Title and Amount |
|4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying |
|sion or |ship | Beneficial Ownership |
| Expiration | Securities |
|exercise |Form of | |
| Date(Month/
|-----------------------|---------|price of |Deriv- |
|
| Day/Year) | |Amount
|deri- |ative | |
| Date | Expira- | |or
|vative |Security: | |
| Exer- | tion | Title |Number
of|Security |Direct(D) or | |
| cisable | Date | |Shares
| |Indirect(I) | |
______________________________________________________________________________
_____________________________________________________|
<S> <C> <C> <C> <C>
<C> <C> <C>
No Securities Owned | | | |
| | | |
- ------------------------------------------------------------------------------
- -----------------------------------------------------|
______________________________________________________________________________
_____________________________________________________|
</TABLE>
Explanation of Responses:
SIGNATURE OF REPORTING PERSON
/s/ Frederic C. Liskow on behalf of A. William Crowley, Jr.
DATE
November 19, 1998
