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
Hollingsworth, Matthew L.
250 E. Carpenter Freeway
Irving, TX 75062
2. Date of Event Requiring Statement (Month/Day/Year)
08/09/1999
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)
Senior 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
<TABLE>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
Class A Common Stock |8,000 (1) |D | |
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Table II -- Derivative Securitites Beneficially Owned |
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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) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
Phantom Stock Units |(2) |(2) |Class A Common Stock |1,928.56 |1-for-1 |D | |
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Stock Options |(3) |9/30/2008|Class A Common Stock |20,000 |1-for-1 |D | |
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Stock Options |(3) |1/4/2009 |Class A Common Stock |20,000 |1-for-1 |D | |
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Explanation of Responses:
1. These restricted shares of Class A Common Stock were granted by the issuer
without payment by me. The grant includes the right, subject to approval by
the issuer, to have shares withheld
to satisfy income tax
obligations.
2. The Phantom Stock units were acquired under AFS's Deferred Compensation
Plan and are to be settled in cash at the time and in the manner elected by the
reporting person at the time of the
deferral
election.
3. These options were granted without payment by me. The options are
exercisable to the extent of 33 1/3% of such shares after one year from the
date of grant, 66 2/3% after two years and in
full after three years. The options include the right, subject to approval by
the issuer, to have shares withheld to satisfy income tax obligations.
SIGNATURE OF REPORTING PERSON
/s/ Frederic C. Liskow on behalf of Matthew L. Hollingsworth
DATE
August 16, 1999
