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
Keller, David J.
250 E. Carpenter Freeway
Irving, TX 75062
2. Date of Event Requiring Statement (Month/Day/Year)
01/18/2000
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
<TABLE>
<CAPTION>
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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 |10,000 |D
| |
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Class A Common Stock |1,000 |I
|By Wife |
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<CAPTION>
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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>
Stock Options |(1) |1/3/2010 |Class A Common Stock |25,000
|$25.5625 |D | |
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</TABLE>
Explanation of Responses:
1. These options were granted by the issuer 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 David J. Keller
DATE
January 25, 2000
