----

----

**UNITED      STATES SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

|   |                         |   |
|--------|------------------------------|--------|
|   | **FORM                10-Q** |   |

| (**Mark                One)**                                                                                                                           |                                                                                                                  |   |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|--------|--------|--------|
| **þ**                                                                                                                                              | QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF                                                    |
|                                                                                                                                                    | THE                SECURITIES EXCHANGE ACT OF 1934                                                                    |
|                                                                                                                                                    |
| For                the quarterly period ended June 30, 2007                                                                                             |
| OR                                                                                                                                                 |
| **¨**                                                                                                                                              | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE                SECURITIES EXCHANGE ACT OF 1934 |
|                                                                                                                                                    |
| For                the transition period from ___________to ___________                                                                                 |
|  **_____________________________** Commission                file number 0-14804**________________________****_____________________________** |
|                                                                                                                                                    |
| **GENERAL                ELECTRIC CAPITAL SERVICES, INC.**(Exact                name of registrant as specified in its                charter)          |

| **Delaware**                                                                  |   | **06-1109503**                                      |
|-------------------------------------------------------------------------------|--------|-----------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) |   | (I.R.S.                Employer Identification No.) |
|                                                                          |   |                                                |
| **3135                Easton Turnpike, Fairfield, Connecticut**               |   | **06828-0001**                                      |
| (Address                of principal executive offices)                       |   | (Zip                Code)                           |

** **
**(203)      373-2211**

**þ**

** **
**¨**

| Large                accelerated filer **¨**** **  | Accelerated                filer **¨**  | Non-accelerated                filer **þ**  |
|-------------------------------------------------------------------|---------------------------------------------------|-------------------------------------------------------|

**¨**

**þ**

**REGISTRANT      MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND (b) OF      FORM 10-Q AND IS THEREFORE FILING THIS FORM 10-Q WITH THE REDUCED      DISCLOSURE FORMAT.**

----

**General      Electric Capital Services, Inc.**

| **Part                I – Financial Information**                                                                                          |   | Page   |
|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|                                                                                                                                             |   |   |
| Item                1. Financial                Statements                                                                                       |   |   |
| Condensed                Statement of Current                and Retained Earnings                                                               |   | 3      |
| Condensed                Statement of Financial                Position                                                                          |   | 4      |
| Condensed                Statement of Cash                Flows                                                                                  |   | 5      |
| Notes                to Condensed, Consolidated                Financial Statements (Unaudited)                                                  |   | 6      |
| Item                2. Management’s Discussion                and Analysis of Financial Condition and Results of                Operations |   | 11     |
| Item                4. Controls and                Procedures                                                                                    |   | 20     |
|                                                                                                                                             |   |   |
| **Part                II – Other Information**                                                                                             |   |   |
|                                                                                                                                             |   |   |
| Item                1. Legal                Proceedings                                                                                          |   | 20     |
| Item                6. Exhibits                                                                                                                  |   | 21     |
| Signatures                                                                                                                                       |   | 22     |

**Forward-Looking      Statements**

----

**Part      I. Financial Information**

**Item      1. Financial Statements**

**General      Electric Capital Services, Inc. and consolidated      affiliates**

**Condensed      Statement of Current and Retained Earnings**

**(Unaudited)**

|                                                                | **Three                months ended****June                30** |   | **Six                months ended****June                30** |   |
|---------------------------------------------------------------------|-----------------------------------------------------------------|--------|---------------------------------------------------------------|--------|
| *(In                millions)*                                      | **2007**                                                        |   | **2006**                                                      |   | **2007** |   | **2006** |   |
|                                                                |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues**                                                        |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| Revenues                from services (note 3)                      | $                                                               | 17,076 |                                                          | $      | 14,743 |   | $ | 34,378 |   | $ | 29,077 |   |
| Sales                of goods                                       |                                                            | 28     |                                                          |   | 712 |   |   | 60 |   |   | 1,267 |   |
| Total                revenues                                       |                                                            | 17,104 |                                                          |   | 15,455 |   |   | 34,438 |   |   | 30,344 |   |
|                                                                |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Costs                and expenses**                               |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| Interest                                                            |                                                            | 5,540  |                                                          |   | 4,196 |   |   | 10,864 |   |   | 8,290 |   |
| Operating                and administrative                         |                                                            | 4,842  |                                                          |   | 4,274 |   |   | 9,357 |   |   | 8,498 |   |
| Cost                of goods sold                                   |                                                            | 23     |                                                          |   | 659 |   |   | 48 |   |   | 1,172 |   |
| Investment                contracts, insurance losses and insurance |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| annuity                benefits                                     |                                                            | 925    |                                                          |   | 831 |   |   | 1,855 |   |   | 1,636 |   |
| Provision                for losses on financing receivables        |                                                            | 1,301  |                                                          |   | 896 |   |   | 2,475 |   |   | 1,718 |   |
| Depreciation                and amortization                        |                                                            | 1,941  |                                                          |   | 1,579 |   |   | 3,870 |   |   | 3,078 |   |
| Minority                interest in net earnings of consolidated    |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| affiliates                                                          |                                                            | 38     |                                                          |   | 49 |   |   | 131 |   |   | 124 |   |
| Total                costs and                expenses              |                                                            | 14,610 |                                                          |   | 12,484 |   |   | 28,600 |   |   | 24,516 |   |
|                                                                |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Earnings                from continuing operations before**       |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **income                taxes**                                     |                                                            | 2,494  |                                                          |   | 2,971 |   |   | 5,838 |   |   | 5,828 |   |
| Provision                for income taxes                           |                                                            | (327   | )                                                             |   | (377 | ) |   | (646 | ) |   | (829 | ) |
|                                                                |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Earnings                from continuing operations**              |                                                            | 2,167  |                                                          |   | 2,594 |   |   | 5,192 |   |   | 4,999 |   |
| Earnings                (loss) from discontinued operations, net of |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| taxes                (note 2)                                       |                                                            | (1     | )                                                             |   | (2 | ) |   | (3 | ) |   | 261 |   |
|                                                                |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Net                earnings**                                     |                                                            | 2,166  |                                                          |   | 2,592 |   |   | 5,189 |   |   | 5,260 |   |
| Dividends                                                           |                                                            | (932   | )                                                             |   | (4,186 | ) |   | (4,804 | ) |   | (7,730 | ) |
| Retained                earnings at beginning of period             |                                                            | 34,651 |                                                          |   | 34,030 |   |   | 35,500 |   |   | 34,906 |   |
| Retained                earnings at end of period                   | $                                                               | 35,885 |                                                          | $      | 32,436 |   | $ | 35,885 |   | $ | 32,436 |   |
|                                                                |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |

----

**General      Electric Capital Services, Inc. and consolidated      affiliates**

**Condensed      Statement of Financial Position**

| *(In                millions)*                                                                           | **June                30, 2007** |    | **December                31, 2006** |
|----------------------------------------------------------------------------------------------------------|----------------------------------|---------|--------------------------------------|
|                                                                                                     | **(Unaudited)**                  |    |                                 |
| **Assets**                                                                                               |                             |    |                                 |   |   |   |
| Cash                and equivalents                                                                      | $                                | 14,066  |                                 | $ | 12,629 |   |
| Investment                securities                                                                     |                             | 44,730  |                                 |   | 47,492 |   |
| Inventories                                                                                              |                             | 55      |                                 |   | 54 |   |
| Financing                receivables – net (note 5)                                                |                             | 350,070 |                                 |   | 334,232 |   |
| Other                receivables                                                                         |                             | 21,616  |                                 |   | 21,853 |   |
| Property,                plant and equipment, less accumulated amortization of                $23,401    |                             |    |                                 |   |   |   |
| and                $22,573                                                                               |                             | 62,970  |                                 |   | 58,228 |   |
| Intangible                assets – net (note 6)                                                    |                             | 28,181  |                                 |   | 25,968 |   |
| Other                assets                                                                              |                             | 72,336  |                                 |   | 64,212 |   |
| Total                assets                                                                              | $                                | 594,024 |                                 | $ | 564,668 |   |
|                                                                                                     |                             |    |                                 |   |   |   |
| **Liabilities                and equity**                                                                |                             |    |                                 |   |   |   |
| Short-term                borrowings (note 7)                                                            | $                                | 181,457 |                                 | $ | 173,316 |   |
| Accounts                payable                                                                          |                             | 12,837  |                                 |   | 13,923 |   |
| Long-term                borrowings (note 7)                                                             |                             | 274,992 |                                 |   | 252,963 |   |
| Investment                contracts, insurance liabilities and insurance annuity                benefits |                             | 34,977  |                                 |   | 34,807 |   |
| Other                liabilities                                                                         |                             | 23,321  |                                 |   | 20,935 |   |
| Deferred                income taxes                                                                     |                             | 9,938   |                                 |   | 12,217 |   |
| Liabilities                of discontinued operations (note 2)                                           |                             | 392     |                                 |   | 455 |   |
| Total                liabilities                                                                         |                             | 537,914 |                                 |   | 508,616 |   |
|                                                                                                     |                             |    |                                 |   |   |   |
| Minority                interest in equity of consolidated affiliates                                    |                             | 1,046   |                                 |   | 1,955 |   |
|                                                                                                     |                             |    |                                 |   |   |   |
| Capital                stock                                                                             |                             | 11      |                                 |   | 11 |   |
| Accumulated                gains (losses) – net                                                    |                             |    |                                 |   |   |   |
| Investment                securities                                                                     |                             | 395     |                                 |   | 1,594 |   |
| Currency                translation                adjustments                                           |                             | 5,952   |                                 |   | 4,837 |   |
| Cash                flow hedges                                                                          |                             | 561     |                                 |   | (171 | ) |
| Benefit                plans                                                                             |                             | (264    | )                                    |   | (278 | ) |
| Additional                paid-in capital                                                                |                             | 12,524  |                                 |   | 12,527 |   |
| Retained                earnings                                                                         |                             | 35,885  |                                 |   | 35,577 |   |
| Total                shareowner’s                equity                                            |                             | 55,064  |                                 |   | 54,097 |   |
| Total                liabilities and equity                                                              | $                                | 594,024 |                                 | $ | 564,668 |   |
|                                                                                                     |                             |    |                                 |   |   |   |

----

**General      Electric Capital Services, Inc. and consolidated      affiliates**

**Condensed      Statement of Cash Flows**

**(Unaudited)**

| *(In                millions)*                                                                                 | **Six                months ended****June                30** |     |
|----------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------|----------|
|                                                                                                           | **2007**                                                      |     | **2006** |   |
| **Cash                flows – operating activities**                                                     |                                                          |     |   |   |   |   |
| Net                earnings                                                                                    | $                                                             | 5,189    |   | $ | 5,260 |   |
| Loss                (earnings) from discontinued operations                                                    |                                                          | 3        |   |   | (261 | ) |
| Adjustments                to reconcile net earnings to cash provided from operating                activities |                                                          |     |   |   |   |   |
| Depreciation                and amortization                of property, plant and equipment              |                                                          | 3,870    |   |   | 3,078 |   |
| Increase                (decrease) in accounts                payable                                          |                                                          | 244      |   |   | (373 | ) |
| Provision                for losses on                financing receivables                                    |                                                          | 2,475    |   |   | 1,718 |   |
| All                other operating                activities                                                   |                                                          | 1,079    |   |   | (640 | ) |
| Cash                from operating activities – continuing operations                                    |                                                          | 12,860   |   |   | 8,782 |   |
| Cash                used for operating activities – discontinued operations                              |                                                          | (17      | ) |   | (9 | ) |
| **Cash                from operating activities**                                                              |                                                          | 12,843   |   |   | 8,773 |   |
|                                                                                                           |                                                          |     |   |   |   |   |
| **Cash                flows – investing activities**                                                     |                                                          |     |   |   |   |   |
| Additions                to property, plant and equipment                                            |                                                          | (7,498   | ) |   | (5,887 | ) |
| Dispositions                of property, plant and equipment                                         |                                                          | 4,805    |   |   | 2,896 |   |
| Increase                in loans to customers                                                                  |                                                          | (173,715 | ) |   | (155,668 | ) |
| Principal                collections from customers – loans                                              |                                                          | 157,022  |   |   | 141,991 |   |
| Investment                in equipment for financing leases                                                    |                                                          | (11,906  | ) |   | (12,939 | ) |
| Principal                collections from customers – financing leases                                   |                                                          | 11,291   |   |   | 9,711 |   |
| Net                change in credit card receivables                                                           |                                                          | 5,510    |   |   | 1,422 |   |
| Proceeds                from sales of discontinued operations                                                  |                                                          | –  |   |   | 8,112 |   |
| Payments                for principal businesses purchased                                                     |                                                          | (5,829   | ) |   | (3,509 | ) |
| Proceeds                from principal business dispositions                                                   |                                                          | 1,102    |   |   | – |   |
| All                other investing activities                                                                  |                                                          | (3,584   | ) |   | (2,481 | ) |
| Cash                used for investing activities – continuing operations                                |                                                          | (22,802  | ) |   | (16,352 | ) |
| Cash                from (used for) investing activities – discontinued                operations        |                                                          | 17       |   |   | (2,558 | ) |
| **Cash                used for investing activities**                                                          |                                                          | (22,785  | ) |   | (18,910 | ) |
|                                                                                                           |                                                          |     |   |   |   |   |
| **Cash                flows – financing activities**                                                     |                                                          |     |   |   |   |   |
| Net                decrease in borrowings (maturities of 90 days or less)                                      |                                                          | (6,623   | ) |   | (4,127 | ) |
| Newly                issued debt                                                                               |                                                          |     |   |   |   |   |
| Short-term                (91 to 365                days)                                                      |                                                          | 775      |   |   | 422 |   |
| Long-term                (longer than one                year)                                                 |                                                          | 46,935   |   |   | 43,472 |   |
| Non-recourse,                leveraged                lease                                                    |                                                          | 24       |   |   | 80 |   |
| Repayments                and other debt reductions                                                            |                                                          |     |   |   |   |   |
| Short-term                (91 to 365                days)                                                      |                                                          | (20,271  | ) |   | (19,211 | ) |
| Long-term                (longer than one                year)                                                 |                                                          | (3,640   | ) |   | (2,054 | ) |
| Non-recourse,                leveraged                lease                                                    |                                                          | (609     | ) |   | (522 | ) |
| Dividends                paid to shareowner                                                                    |                                                          | (4,632   | ) |   | (7,590 | ) |
| All                other financing activities                                                                  |                                                          | (580     | ) |   | (546 | ) |
| Cash                from financing activities – continuing operations                                    |                                                          | 11,379   |   |   | 9,924 |   |
| Cash                used for financing activities – discontinued operations                              |                                                          | –  |   |   | (256 | ) |
| **Cash                from financing activities**                                                              |                                                          | 11,379   |   |   | 9,668 |   |
|                                                                                                           |                                                          |     |   |   |   |   |
| **Increase                (decrease) in cash and equivalents**                                                 |                                                          | 1,437    |   |   | (469 | ) |
| Cash                and equivalents at beginning of year                                                       |                                                          | 12,629   |   |   | 10,106 |   |
| Cash                and equivalents at June 30                                                                 |                                                          | 14,066   |   |   | 9,637 |   |
| Less                cash and equivalents of discontinued operations at June 30                                 |                                                          | –  |   |   | 153 |   |
| **Cash                and equivalents of continuing operations at June                30**                     | $                                                             | 14,066   |   | $ | 9,484 |   |
|                                                                                                           |                                                          |     |   |   |   |   |

----

**Notes      to Condensed, Consolidated Financial Statements (Unaudited)**

----

|                                                   | **Three                months ended****June                30** |   | **Six                months ended****June                30** |   |
|--------------------------------------------------------|-----------------------------------------------------------------|--------|---------------------------------------------------------------|--------|
| *(In                millions)*                         | **2007**                                                        |   | **2006**                                                      |   | **2007** |   | **2006** |   |
|                                                   |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| Interest                on loans                       | $                                                               | 6,176  |                                                          | $      | 5,627 |   | $ | 12,222 |   | $ | 10,969 |   |
| Equipment                leased to others              |                                                            | 3,690  |                                                          |   | 3,152 |   |   | 7,453 |   |   | 6,067 |   |
| Financing                leases                        |                                                            | 1,215  |                                                          |   | 1,025 |   |   | 2,353 |   |   | 2,027 |   |
| Fees                                                   |                                                            | 1,317  |                                                          |   | 1,009 |   |   | 2,510 |   |   | 2,016 |   |
| Real                estate investments                 |                                                            | 967    |                                                          |   | 674 |   |   | 2,056 |   |   | 1,342 |   |
| Investment                income(a)                    |                                                            | 683    |                                                          |   | 566 |   |   | 2,124 |   |   | 1,226 |   |
| Premiums                earned by insurance activities |                                                            | 519    |                                                          |   | 485 |   |   | 1,070 |   |   | 976 |   |
| Associated                companies                    |                                                            | 590    |                                                          |   | 484 |   |   | 1,015 |   |   | 929 |   |
| Gross                securitization gains              |                                                            | 547    |                                                          |   | 266 |   |   | 1,118 |   |   | 534 |   |
| Other                items                             |                                                            | 1,372  |                                                          |   | 1,455 |   |   | 2,457 |   |   | 2,991 |   |
| Total                                                  | $                                                               | 17,076 |                                                          | $      | 14,743 |   | $ | 34,378 |   | $ | 29,077 |   |
|                                                   |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |

| (a) | Included                gain on sale of common stock in Swiss Re of $558 million during first                quarter of 2007. |   |
|-----|-------------------------------------------------------------------------------------------------------------------------------|--------|

** **

|                                                                                                          | **At**      |    |
|---------------------------------------------------------------------------------------------------------------|-------------|---------|
| *(In                millions)*                                                                                | **6/30/07** |    | **1/1/07** |   |
|                                                                                                          |        |    |   |   |   |   |
| Unrecognized                tax benefits                                                                      | $           | 4,006   |   | $ | 3,507 |   |
| Portion                that, if recognized,                would reduce tax expense and effective tax rate(a) |        | 2,754   |   |   | 2,403 |   |
| Accrued                interest on unrecognized tax benefits                                                  |        | 640     |   |   | 685 |   |
| Accrued                penalties on unrecognized tax benefits                                                 |        | 66      |   |   | 96 |   |
| Reasonably                possible reduction to the balance of unrecognized tax benefits                in    |        |    |   |   |   |   |
| succeeding                12                months                                                            |        | 0-1,100 |   |   | 0-500 |   |
| Portion                that, if recognized,                would reduce tax expense and effective tax rate(a) |        | 0-900   |   |   | 0-200 |   |
|                                                                                                          |        |    |   |   |   |   |

| (a) | Some                portion of such reduction might be reported as discontinued                operations. |   |
|-----|------------------------------------------------------------------------------------------------------------|--------|

----

|                                                                  | **At**      |    |
|-----------------------------------------------------------------------|-------------|---------|
| *(In                millions)*                                        | **6/30/07** |    | **12/31/06** |   |
|                                                                  |        |    |   |   |   |   |
| Loans,                net of deferred income                          | $           | 281,851 |   | $ | 270,343 |   |
| Investment                in financing leases, net of deferred income |        | 72,728  |   |   | 68,569 |   |
|                                                                  |        | 354,579 |   |   | 338,912 |   |
| Less                allowance for losses                              |        | (4,509  | ) |   | (4,680 | ) |
| Financing                receivables – net(a)                   | $           | 350,070 |   | $ | 334,232 |   |
|                                                                  |        |    |   |   |   |   |

| (a) | Included                $11,291 million and $11,509 million related to consolidated, liquidating                securitization entities at June 30, 2007, and December 31, 2006,                respectively. |   |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|                                                     | **At**      |   |
|----------------------------------------------------------|-------------|--------|
| *(In                millions)*                           | **6/30/07** |   | **12/31/06** |   |
|                                                     |        |   |   |   |   |   |
| Goodwill                                                 | $           | 24,681 |   | $ | 22,754 |   |
| Intangible                assets subject to amortization |        | 3,500  |   |   | 3,214 |   |
| Total                                                    | $           | 28,181 |   | $ | 25,968 |   |

|                                            | **2007**                        |   |
|-------------------------------------------------|---------------------------------|--------|
| *(In                millions)*                  | **GE****Commercial****Finance** |   | **GE****Money** |   | **GE****Industrial(a)** |   | **GE****Infrastructure(a)** |   | **Total** |   |
|                                            |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance                January 1                |                            | $      | 11,315 |   |   |   | $ | 9,845 |   |   |   | $ | 1,430 |   |   |   | $ | 164 |   |   | $ | 22,754 |   |
| Acquisitions/purchase                accounting |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| adjustments                                     |                            |   | 1,681 |   |   |   |   | (30 | ) |   |   |   | 12 |   |   |   |   | 200 |   |   |   | 1,863 |   |
| Dispositions,                currency exchange  |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and                other                        |                            |   | 66 |   |   |   |   | 62 |   |   |   |   | (64 | ) |   |   |   | – |   |   |   | 64 |   |
| Balance                June 30                  |                            | $      | 13,062 |   |   |   |   | 9,877 |   |   |   |   | 1,378 |   |   |   |   | 364 |   |   |   | 24,681 |   |
|                                            |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

| (a) | Included                only portions of the segment that are financial services                businesses. |   |
|-----|-------------------------------------------------------------------------------------------------------------|--------|

----

**Intangible      assets subject to amortization**

|                                            | **At**                          |
|-------------------------------------------------|---------------------------------|
|                                            | **6/30/07**                     |   | **12/31/06** |
| *(In                millions)*                  | **Gross****carrying****amount** |   | **Accumulated****amortization** |   | **Net** |   | **Gross****carrying****amount** |   | **Accumulated****amortization** |   | **Net** |
|                                            |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Patents,                licenses and trademarks | $                               | 621 |   | $ | (345 | ) | $ | 276 |   | $ | 467 |   | $ | (302 | ) | $ | 165 |
| Capitalized                software             |                            | 1,798 |   |   | (1,062 | ) |   | 736 |   |   | 1,684 |   |   | (981 | ) |   | 703 |
| All                other                        |                            | 3,930 |   |   | (1,442 | ) |   | 2,488 |   |   | 3,591 |   |   | (1,245 | ) |   | 2,346 |
| Total                                           | $                               | 6,349 |   | $ | (2,849 | ) | $ | 3,500 |   | $ | 5,742 |   | $ | (2,528 | ) | $ | 3,214 |

|                                             | **At**      |    |
|--------------------------------------------------|-------------|---------|
| *(In                millions)*                   | **6/30/07** |    | **12/31/06** |   |
|                                             |        |    |   |   |   |   |
| **Short-term                borrowings**         |        |    |   |   |   |   |
|                                             |        |    |   |   |   |   |
| Commercial                paper                  |        |    |   |   |   |   |
| U.S.                                             |        |    |   |   |   |   |
| Unsecured                                        | $           | 64,006  |   | $ | 67,423 |   |
| Asset-backed(a)                                  |        | 5,480   |   |   | 6,430 |   |
| Non-U.S.                                         |        | 28,522  |   |   | 26,328 |   |
| Current                portion of long-term debt |        | 57,930  |   |   | 44,553 |   |
| GE                Interest Plus notes(b)         |        | 9,843   |   |   | 9,161 |   |
| Other                                            |        | 15,676  |   |   | 19,421 |   |
| Total                                            |        | 181,457 |   |   | 173,316 |   |
|                                             |        |    |   |   |   |   |
| **Long-term                borrowings**          |        |    |   |   |   |   |
|                                             |        |    |   |   |   |   |
| Senior                notes                      |        |    |   |   |   |   |
| Unsecured                                        |        | 257,492 |   |   | 235,952 |   |
| Asset-backed(c)                                  |        | 6,241   |   |   | 5,810 |   |
| Extendible                notes                  |        | 6,000   |   |   | 6,000 |   |
| Subordinated                notes(d)             |        | 5,259   |   |   | 5,201 |   |
| Total                                            |        | 274,992 |   |   | 252,963 |   |
| **Total                borrowings**              | $           | 456,449 |   | $ | 426,279 |   |
|                                             |        |    |   |   |   |   |

| (a)  | Entirely                obligations of consolidated, liquidating securitization entities.                See note                9.                                                                                                                                                 |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b)  | Entirely                variable denomination floating rate demand notes.                                                                                                                                                                                                           |
| (c)  | Included                $5,009 million and $4,684 million of asset-backed senior notes, issued                by                consolidated, liquidating securitization entities at June 30, 2007,                and                December 31, 2006, respectively. See note 9.  |
| (d)       | Included                $750 million of subordinated notes guaranteed by GE at June 30, 2007,                and                December 31, 2006.                                                                                                                                       |

----

*Employers’*
*Accounting for Defined      Benefit Pension and Other Postretirement Plans*
*Reporting Comprehensive Income*
*ending balance*

|                                                        | **Three                months ended****June                30** |   | **Six                months ended****June                30** |   |
|-------------------------------------------------------------|-----------------------------------------------------------------|--------|---------------------------------------------------------------|--------|
| *(In                millions)*                              | **2007**                                                        |   | **2006**                                                      |   | **2007** |   | **2006** |   |
|                                                        |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| Net                earnings                                 | $                                                               | 2,166  |                                                          | $      | 2,592 |   | $ | 5,189 |   | $ | 5,260 |   |
| Investment                securities – net            |                                                            | (873   | )                                                             |   | (668 | ) |   | (1,199 | ) |   | (1,373 | ) |
| Currency                translation adjustments – net |                                                            | 1,349  |                                                          |   | 1,428 |   |   | 1,115 |   |   | 1,148 |   |
| Cash                flow hedges – net                 |                                                            | 665    |                                                          |   | 155 |   |   | 732 |   |   | 366 |   |
| Benefit                plans – net                    |                                                            | (1     | )                                                             |   | (3 | ) |   | 14 |   |   | (13 | ) |
| Total                                                       | $                                                               | 3,306  |                                                          | $      | 3,504 |   | $ | 5,851 |   | $ | 5,388 |   |

|                                                  | **At**      |   |
|-------------------------------------------------------|-------------|--------|
| *(In                millions)*                        | **6/30/07** |   | **12/31/06** |   |
|                                                  |        |   |   |   |   |   |
| Receivables                secured by                 |        |   |   |   |   |   |
| Equipment                                             | $           | 9,280  |   | $ | 9,590 |   |
| Commercial                real                estate  |        | 11,640 |   |   | 11,324 |   |
| Residential                real                estate |        | 6,705  |   |   | 7,329 |   |
| Other                assets                           |        | 14,857 |   |   | 14,743 |   |
| Credit                card receivables                |        | 20,059 |   |   | 12,947 |   |
| Trade                receivables                      |        | 392    |   |   | 176 |   |
| Total                securitized assets               | $           | 62,933 |   | $ | 56,109 |   |

----

|                                    | **At**      |   |
|-----------------------------------------|-------------|--------|
| *(In                millions)*          | **6/30/07** |   | **12/31/06** |   |
|                                    |        |   |   |   |   |   |
| Off-balance                sheet(a)(b)  | $           | 51,497 |   | $ | 44,462 |   |
| On-balance                sheet(c)(d)   |        | 11,436 |   |   | 11,647 |   |
| Total                securitized assets | $           | 62,933 |   | $ | 56,109 |   |
|                                    |        |   |   |   |   |   |

| (a)  | At                June 30, 2007, and December 31, 2006, liquidity support amounted                to $673                million and $753 million, respectively. These amounts are net of                $2,762                million and $3,034 million, respectively, deferred beyond one year.                Credit                support amounted to $3,465 million and $3,815 million at June 30,                2007,                and December 31, 2006, respectively.  |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b)  | Liabilities                for recourse obligations related to off-balance sheet assets were                $7                million and $27 million at June 30, 2007, and December 31, 2006,                respectively.                                                                                                                                                                                                                                                         |
| (c)  | At                June 30, 2007, and December 31, 2006, liquidity support amounted                to $5,613                million and $6,585 million, respectively. Credit support amounted                to                $2,861 million and $2,926 million at June 30, 2007, and December                31, 2006,                respectively.                                                                                                                                |
| (d)       | Included                $11,291 million and $11,509 million of financing receivables – net related                to consolidated, liquidating securitization entities at June 30,                2007, and                December 31, 2006, respectively.                                                                                                                                                                                                                        |

**Item      2. Management’s Discussion and Analysis of Financial Condition and Results of      Operations**

**A.      Results of Operations**

**Overview**

----

**Segment      Operations**

----

----

**Summary      of Operating Segments**

|                                                            | **Three                months ended****June                30** |    | **Six                months ended****June                30** |   |
|-----------------------------------------------------------------|-----------------------------------------------------------------|---------|---------------------------------------------------------------|--------|
| *(In                millions)*                                  | **2007**                                                        |    | **2006**                                                      |   | **2007** |   | **2006** |   |
|                                                            |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
|                                                            |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues**                                                    |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| GE                Commercial Finance                            | $                                                               | 6,383   |                                                          | $      | 5,527 |   | $ | 12,666 |   | $ | 11,011 |   |
| GE                Money                                         |                                                            | 6,145   |                                                          |   | 5,268 |   |   | 11,952 |   |   | 10,358 |   |
| GE                Industrial                                    |                                                            | 6,220   |                                                          |   | 6,473 |   |   | 12,048 |   |   | 12,384 |   |
| GE                Infrastructure                                |                                                            | 13,913  |                                                          |   | 11,332 |   |   | 25,896 |   |   | 21,484 |   |
| Total                segment                revenues            |                                                            | 32,661  |                                                          |   | 28,600 |   |   | 62,562 |   |   | 55,237 |   |
| GECS                corporate items and eliminations(a)         |                                                            | 1,255   |                                                          |   | 1,478 |   |   | 3,111 |   |   | 2,856 |   |
| Total                revenues                                   |                                                            | 33,916  |                                                          |   | 30,078 |   |   | 65,673 |   |   | 58,093 |   |
| Less                portion of GE revenues not included in GECS |                                                            | (16,812 | )                                                             |   | (14,623 | ) |   | (31,235 | ) |   | (27,749 | ) |
| Total                revenues in GECS                           | $                                                               | 17,104  |                                                          | $      | 15,455 |   | $ | 34,438 |   | $ | 30,344 |   |
|                                                            |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Segment                profit**                               |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| GE                Commercial Finance                            | $                                                               | 1,250   |                                                          | $      | 1,057 |   | $ | 2,671 |   | $ | 2,231 |   |
| GE                Money                                         |                                                            | 952     |                                                          |   | 880 |   |   | 1,803 |   |   | 1,716 |   |
| GE                Industrial                                    |                                                            | 482     |                                                          |   | 478 |   |   | 841 |   |   | 813 |   |
| GE                Infrastructure                                |                                                            | 2,589   |                                                          |   | 2,107 |   |   | 4,772 |   |   | 3,810 |   |
| Total                segment                profit              |                                                            | 5,273   |                                                          |   | 4,522 |   |   | 10,087 |   |   | 8,570 |   |
| GECS                corporate items and eliminations(a)(b)      |                                                            | (539    | )                                                             |   | 125 |   |   | (311 | ) |   | 152 |   |
| Less                portion of GE segment profit not            |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| included                in                GECS                  |                                                            | (2,567  | )                                                             |   | (2,053 | ) |   | (4,584 | ) |   | (3,723 | ) |
| Earnings                in GECS from continuing operations      |                                                            | 2,167   |                                                          |   | 2,594 |   |   | 5,192 |   |   | 4,999 |   |
| Earnings                (loss) in GECS from discontinued        |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| operations,                net of                taxes          |                                                            | (1      | )                                                             |   | (2 | ) |   | (3 | ) |   | 261 |   |
| Total                net earnings in GECS                       | $                                                               | 2,166   |                                                          | $      | 2,592 |   | $ | 5,189 |   | $ | 5,260 |   |
|                                                            |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |

| (a) | Included                the gain on sale of common stock in Swiss Re $0.6 billion pre tax                ($0.3                billion after tax) during the first quarter of 2007.                                                                                                                                                                                                                                                                                                                |   |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| (b) | Included                restructuring charges for the second quarter and first six months                of 2007                of $0.2 billion and $0.3 billion, respectively, related to the portions                of                the segment that are financial services businesses. Such charges                primarily                related to business exits at GE Commercial Finance; branch closures                at GE                Money; and a business exit at GE Industrial. |   |

----

**GE      Commercial Finance**

|                              | **Three                months ended****June                30** |   | **Six                months ended****June                30** |   |
|-----------------------------------|-----------------------------------------------------------------|--------|---------------------------------------------------------------|--------|
| *(In                millions)*    | **2007**                                                        |   | **2006**                                                      |   | **2007** |   | **2006** |   |
|                              |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues**                      | $                                                               | 6,383  |                                                          | $      | 5,527 |   | $ | 12,666 |   | $ | 11,011 |   |
|                              |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Segment                profit** | $                                                               | 1,250  |                                                          | $      | 1,057 |   | $ | 2,671 |   | $ | 2,231 |   |
|                              |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |

|                            | **At**      |    |        |   |         |
|---------------------------------|-------------|---------|-------------|--------|--------------|
| *(In                millions)*  | **6/30/07** |    | **6/30/06** |   | **12/31/06** |   |   |   |   |
|                            |        |    |        |   |         |   |   |   |   |   |   |   |
| **Total                assets** | $           | 259,383 |        | $      | 206,510      |   | $ | 233,536 |   |   |   |   |

|                                    | **Three                months ended****June                30** |   | **Six                months ended****June                30** |   |
|-----------------------------------------|-----------------------------------------------------------------|--------|---------------------------------------------------------------|--------|
| *(In                millions)*          | **2007**                                                        |   | **2006**                                                      |   | **2007** |   | **2006** |   |
|                                    |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues                in GE**       |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| Capital                Solutions        | $                                                               | 3,069  |                                                          | $      | 3,047 |   | $ | 5,962 |   | $ | 5,867 |   |
| Real                Estate              |                                                            | 1,557  |                                                          |   | 1,047 |   |   | 3,172 |   |   | 2,122 |   |
|                                    |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Segment                profit in GE** |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| Capital                Solutions        | $                                                               | 454    |                                                          | $      | 433 |   | $ | 834 |   | $ | 772 |   |
| Real                Estate              |                                                            | 476    |                                                          |   | 334 |   |   | 1,040 |   |   | 775 |   |

|                             | **At**      |    |        |   |         |
|----------------------------------|-------------|---------|-------------|--------|--------------|
| *(In                millions)*   | **6/30/07** |    | **6/30/06** |   | **12/31/06** |   |   |   |   |
|                             |        |    |        |   |         |   |   |   |   |   |   |   |
| **Assets                in GE**  |        |    |        |   |         |   |   |   |   |   |   |   |
| Capital                Solutions | $           | 109,937 |        | $      | 90,710       |   | $ | 94,523 |   |   |   |   |
| Real                Estate       |        | 62,057  |        |   | 44,144       |   |   | 53,786 |   |   |   |   |

----

**GE      Money**

|                              | **Three                months ended****June                30** |    | **Six                months ended****June                30** |   |
|-----------------------------------|-----------------------------------------------------------------|---------|---------------------------------------------------------------|--------|
| *(In                millions)*    | **2007**                                                        |    | **2006**                                                      |   | **2007** |   | **2006** |   |
|                              |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues**                      | $                                                               | 6,145   |                                                          | $      | 5,268 |   | $ | 11,952 |   | $ | 10,358 |   |
|                              |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Segment                profit** | $                                                               | 952     |                                                          | $      | 880 |   | $ | 1,803 |   | $ | 1,716 |   |
|                              |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
|                              |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
|                              | **At**                                                          |    |                                                          |   |   |
| *(In                millions)*    | **6/30/07**                                                     |    | **6/30/06**                                                   |   | **12/31/06** |   |   |   |   |
|                              |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Total                assets**   | $                                                               | 197,653 |                                                          | $      | 169,416 |   | $ | 190,403 |   |   |   |   |

----

**GE      Industrial**

|                                                              | **Three                months ended****June                30** |   | **Six                months ended****June                30** |   |
|-------------------------------------------------------------------|-----------------------------------------------------------------|--------|---------------------------------------------------------------|--------|
| *(In                millions)*                                    | **2007**                                                        |   | **2006**                                                      |   | **2007** |   | **2006** |   |
|                                                              |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues**                                                      | $                                                               | 6,220  |                                                          | $      | 6,473 |   | $ | 12,048 |   | $ | 12,384 |   |
| Less                portion of GE Industrial not included in GECS |                                                            | (4,465 | )                                                             |   | (4,676 | ) |   | (8,545 | ) |   | (8,953 | ) |
| Total                revenues in                GECS              | $                                                               | 1,755  |                                                          | $      | 1,797 |   | $ | 3,503 |   | $ | 3,431 |   |
|                                                              |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Segment                profit**                                 | $                                                               | 482    |                                                          | $      | 478 |   | $ | 841 |   | $ | 813 |   |
| Less                portion of GE Industrial not included in GECS |                                                            | (428   | )                                                             |   | (418 | ) |   | (768 | ) |   | (737 | ) |
| Total                segment profit in                GECS        | $                                                               | 54     |                                                          | $      | 60 |   | $ | 73 |   | $ | 76 |   |
|                                                              |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues                in GE**                                 |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| Consumer&                Industrial                           | $                                                               | 3,614  |                                                          | $      | 3,852 |   | $ | 6,847 |   | $ | 7,386 |   |
| Equipment                Services                                 |                                                            | 1,755  |                                                          |   | 1,797 |   |   | 3,503 |   |   | 3,431 |   |
|                                                              |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| **Segment                profit in GE**                           |                                                            |   |                                                          |   |   |   |   |   |   |   |   |   |
| Consumer&                Industrial                           | $                                                               | 362    |                                                          | $      | 318 |   | $ | 629 |   | $ | 538 |   |
| Equipment                Services                                 |                                                            | 54     |                                                          |   | 60 |   |   | 73 |   |   | 76 |   |

----

**GE      Infrastructure**

|                                                       | **Three                months ended****June                30** |    | **Six                months ended****June                30** |   |
|------------------------------------------------------------|-----------------------------------------------------------------|---------|---------------------------------------------------------------|--------|
| *(In                millions)*                             | **2007**                                                        |    | **2006**                                                      |   | **2007** |   | **2006** |   |
|                                                       |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues**                                               | $                                                               | 13,913  |                                                          | $      | 11,332 |   | $ | 25,896 |   | $ | 21,484 |   |
| Less                portion of GE Infrastructure not       |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| included                in GECS                            |                                                            | (12,347 | )                                                             |   | (9,947 | ) |   | (22,690 | ) |   | (18,796 | ) |
| Total                revenues in                GECS       | $                                                               | 1,566   |                                                          | $      | 1,385 |   | $ | 3,206 |   | $ | 2,688 |   |
|                                                       |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Segment                profit**                          | $                                                               | 2,589   |                                                          | $      | 2,107 |   | $ | 4,772 |   | $ | 3,810 |   |
| Less                portion of GE Infrastructure not       |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| included                in GECS                            |                                                            | (2,139  | )                                                             |   | (1,635 | ) |   | (3,816 | ) |   | (2,986 | ) |
| Total                segment profit in                GECS | $                                                               | 450     |                                                          | $      | 472 |   | $ | 956 |   | $ | 824 |   |
|                                                       |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Revenues                in GE**                          |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| Aviation                                                   | $                                                               | 4,109   |                                                          | $      | 3,291 |   | $ | 7,623 |   | $ | 6,332 |   |
| Aviation                Financial                Services  |                                                            | 1,088   |                                                          |   | 981 |   |   | 2,337 |   |   | 1,915 |   |
| Energy                                                     |                                                            | 5,140   |                                                          |   | 4,442 |   |   | 9,533 |   |   | 8,277 |   |
| Energy                Financial                Services    |                                                            | 417     |                                                          |   | 364 |   |   | 741 |   |   | 665 |   |
| Oil&Gas                                                |                                                            | 1,822   |                                                          |   | 1,094 |   |   | 2,968 |   |   | 1,866 |   |
| Transportation                                             |                                                            | 1,109   |                                                          |   | 1,002 |   |   | 2,231 |   |   | 2,025 |   |
|                                                       |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| **Segment                profit in GE**                    |                                                            |    |                                                          |   |   |   |   |   |   |   |   |   |
| Aviation                                                   | $                                                               | 853     |                                                          | $      | 728 |   | $ | 1,608 |   | $ | 1,373 |   |
| Aviation                Financial                Services  |                                                            | 266     |                                                          |   | 310 |   |   | 654 |   |   | 516 |   |
| Energy                                                     |                                                            | 894     |                                                          |   | 689 |   |   | 1,507 |   |   | 1,125 |   |
| Energy                Financial                Services    |                                                            | 169     |                                                          |   | 146 |   |   | 270 |   |   | 263 |   |
| Oil&Gas                                                |                                                            | 190     |                                                          |   | 108 |   |   | 291 |   |   | 163 |   |
| Transportation                                             |                                                            | 218     |                                                          |   | 165 |   |   | 428 |   |   | 369 |   |

----

**B.      Statement of Financial Position**

**Overview      of Financial Position**

| · | During                the first six months of 2007, we completed the acquisitions of Sanyo                Electronic Credit Co., Ltd., DISKO and ASL, the leasing businesses                of KG                Allgemeine Leasing GmbH & Co., Trustreet Properties, Inc., Crow                Holdings and a controlling interest in Regency Energy Partners                LP. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The                U.S. dollar was weaker at June 30, 2007, than at December 31, 2006,                increasing the translated levels of our non-U.S. dollar assets and                liabilities. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Investment      securities **

**Financing      receivables **

----

|                                   | **Delinquency                rates at** |   |
|----------------------------------------|-----------------------------------------|--------|
|                                   | **6/30/07(a)**                          |   | **12/31/06** |   | **6/30/06** |   |
|                                   |                                    |   |   |   |   |   |
| GE                Commercial Finance   | 1.28                                    | %      | 1.22 | % | 1.29 | % |
| GE                Money                | 5.36                                    |   | 5.05 |   | 5.22 |   |
| GE                Money, excluding WMC | 5.18                                    |   | 5.15 |   | 5.34 |   |
|                                   |                                    |   |   |   |   |   |

| (a) | Subject                to update. |   |
|-----|-----------------------------------|--------|

**C.      Debt Instruments**

**Item      4. Controls and Procedures**

**Part      II. Other Information**

**Item      1. Legal Proceedings**

----

**Item      6. Exhibits**

|   | Exhibit                12     | Computation                of Ratio of Earnings to Fixed Charges and Computation of Ratio of                Earnings                to Combined Fixed Charges and Preferred Stock Dividends.*  |
|--------|------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Exhibit                31(a)  | Certification                Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange                Act of 1934, as Amended.*                                                  |
|   | Exhibit                31(b)  | Certification                Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange                Act of 1934, as Amended.*                                                  |
|   | Exhibit                32     | Certification                Pursuant to 18 U.S.C. Section 1350.*                                                                                                                              |
|   | Exhibit                99     | Financial                Measures that Supplement Generally Accepted Accounting                Principles.*                                                                                    |
|   |                               | *                Filed electronically herewith.                                                                                                                                                |

----

**Signatures**

| General                Electric Capital Services, Inc.(Registrant)    |
|--------------------------------------------------------------------------------------|
| July                27, 2007                                                         |   | /s/                Philip D. Ameen |   |
| Date                                                                                 |   | Philip                D. AmeenSenior                Vice President and ControllerDuly                Authorized Officer and Principal Accounting                Officer |

----