**UNITED        STATES **

**SECURITIES        AND EXCHANGE COMMISSION**

**Washington,        D.C. 20549**

**FORM        10-Q**

| **x** | **QUARTERLY                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                  ACT OF                  1934** |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------|

**For        the quarterly period ended **
**September        30, 2005**

**Commission        File No.**
**        0-13295**

**CATERPILLAR        FINANCIAL SERVICES CORPORATION**

**(Exact        name of Registrant as specified in its charter)**

| **Delaware**                                  | **37-1105865**                               |
|-----------------------------------------------|----------------------------------------------|
| **(State                  of incorporation)** | **(IRS                  Employer I.D. No.)** |

| **2120                  West End Ave.****Nashville,                  Tennessee** |  **37203-0001**            |
|----------------------------------------------------------------------------------|---------------------------------|
| **(Address                  of principal executive offices)**                    | **(Zip                  Code)** |

**Registrant's        telephone number, including area code:**
**        (615) 341-1000**

**The        Registrant is a wholly-owned subsidiary of Caterpillar Inc. and meets the        conditions set forth in General Instruction (H)(1)(a) and (b) of Form 10-Q,        and        is therefore filing this form with the reduced disclosure        format.**

**Indicate        by check mark whether the registrant is a shell company (as defined in Rule        12b-2 of the Exchange Act. **

**o**
**Yes        **
**x**
**No**

**Indicate        by a check mark whether the Registrant (1) has filed all reports required        to be        filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during        the        preceding 12 months (or for such shorter period that the Registrant was required        to file such reports), and (2) has been subject to such filing requirements        for        the past 90 days. **

**Yes**
**        No **
** **

**Indicate        **
**by        check mark whether the Registrant is an accelerated filer (as defined in        Rule        12b-2 of the Exchange Act). **

**Yes        **
**        No **

**At        November 4, 2005, one share of common stock of the Registrant was outstanding,        which is owned by Caterpillar Inc.**

----

**Caterpillar        Financial Services Corporation**

**Form        10-Q for the Quarter Ended September 30, 2005**

**PART        I FINANCIAL        INFORMATION**

Item        1. Consolidated Financial Statements        (Unaudited)

Consolidated        Statement of Financial        Position

Consolidated        Statement of Profit

Consolidated        Statement of Changes in Stockholder’s        Equity

Consolidated        Statement of Cash Flows

Notes        to Consolidated Financial Statements

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

Overview:        Third Quarter 2005 vs. Third Quarter        2004

Forward-Looking        Statements

Critical        Accounting Policies

Three        Months Ended September 30, 2005 vs. Three Months        Ended September 30, 2004

Nine        Months Ended September 30, 2005 vs. Nine Months Ended        September 30, 2004

Capital        Resources and Liquidity

Item        4. Controls and Procedures

**PART        II. OTHER INFORMATION**

Item        1. Legal Proceedings

Item        5. Other Information

Item        6. Exhibits

Signatures

**Part        I. FINANCIAL        INFORMATION**

**Item        1. Consolidated Financial Statements        (Unaudited)**

----

**Caterpillar        Financial Services Corporation**

**Consolidated        Statement of Financial Position**** **

|                                                                       | September                  30,                                                                                                          |   | December                  31,                              |   | September                  30,                            |
|----------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------|--------|-----------------------------------------------------------|
|                                                                       | 2005                                                                                                                                    |   | 2004                                                       |   | 2004                                                      |
| Assets:                                                                    |                                                                                                                                    |   |                                                       |   |                                                      |
| Cash                  and cash equivalents                                 |            $                     114                              |   | $                       98   |   | $     104                   |
| Finance                  receivables                                       |                                                                                                                                    |   |                                                       |   |                                                      |
| Retail                  notes receivable                                   |                                 4,813                             |   | 4,580                                                 |   | 4,277                                                |
| Wholesale                  notes receivable                                |                                 5,199                        |   | 4,789                                                 |   | 4,476                                                |
| Notes                  receivable from Caterpillar                         |                                     87        |   | 120                                                   |   | 304                                                  |
| Finance                  leases and installment sale contracts - Retail    |                              12,652                                         |   | 11,769                                                |   | 10,649                                               |
| Finance                  leases and installment sale contracts - Wholesale |                                   315                   |   |                        185   |   |                        193  |
|                                                                       |                              23,066                                         |   | 21,443                                                |   | 19,899                                               |
| Less:                  Unearned income                                     |                                1,431                              |   | 1,261                                                      |   | 1,150                                                |
| Allowance                  for credit losses                               |                                  295                         |   |                        278   |   | 258                                                  |
| Total                  net finance receivables                             |                              21,340                                         |   | 19,904                                                |   | 18,491                                               |
|                                                                       |                                                                                                                                    |   |                                                       |   |                                                      |
| Equipment                  on operating leases,                            |                                                                                                                                    |   |                                                       |   |                                                      |
| less                  accumulated depreciation                             |                               2,664                                              |   | 2,569                                                 |   | 2,379                                                |
| Deferred                  income taxes                                     |                                                     38  |   | 28                                                    |   | 23                                                   |
| Other                  assets                                              |                                  988                              |   |                        973   |   |     1,258                        |
| Total                  assets                                              |                           $25,144                                                          |   | $23,572                                               |   | $22,255                                              |
|                                                                       |                                                                                                                                    |   |                                                       |   |                                                      |
|                                                                       |                                                                                                                                    |   |                                                       |   |                                                      |
| Liabilities                  and stockholder's equity:                     |                                                                                                                                    |   |                                                       |   |                                                      |
| Payable                  to dealers and others                             |                         $      190                                          |   | $                  221                                |   | $     184                   |
| Payable                  to Caterpillar - other                            |                                  28                               |   | 23                                                    |   | 21                                                   |
| Accrued                  expenses                                          |                                246                                          |   | 179                                                   |   | 165                                                  |
| Income                  taxes payable                                      |                                 74                                     |   | 23                                                    |   | 91                                                   |
| Payable                  to Caterpillar - borrowings                       |                               610                                                |   | 333                                                   |   | 265                                                  |
| Short-term                  borrowings                                     |                            5,746                                                      |   | 5,464                                                 |   | 5,022                                                |
| Current                  maturities of long-term debt                      |                           3,844                                                            |   | 3,519                                                 |   | 3,589                                                |
| Long-term                  debt                                            |                         11,141                                                                       |   | 10,713                                                |   | 10,088                                               |
| Deferred                  income taxes and other liabilities               |                              383                                                      |   | 377                                                   |   | 308                                                  |
| Total                  liabilities                                         |                         22,262                                                                            |   | 20,852                                                |   | 19,733                                               |
|                                                                       |                                                                                                                                    |   |                                                       |   |                                                      |
| Common                  stock - $1 par value                               |                                                                                                                                    |   |                                                       |   |                                                      |
| Authorized:                  2,000 shares; Issued and                      |                                                                                                                                    |   |                                                       |   |                                                      |
| outstanding:                  one share (at paid in amount)                |                              745                                                      |   | 745                                                   |   | 745                                                  |
| Retained                  earnings                                         |                           1,950                                                                 |   | 1,690                                                 |   | 1,620                                                |
| Accumulated                  other comprehensive income                    |                              187                                                      |   |                         285  |   |                        157  |
| Total                  stockholder's equity                                |                           2,882                                                                 |   |                     2,720                   |   |                     2,522                  |
|                                                                       |                                                                                                                                    |   |                                                       |   |                                                      |
| Total                  liabilities and stockholder's equity                |                      $25,144                                                                                        |   | $23,572                                               |   | $22,255                                              |

----

**Caterpillar        Financial Services Corporation**

**Consolidated        Statement of Profit**** **

|                                                     | Three                  Months Ended                            | Nine                  Months Ended                                                          |
|----------------------------------------------------------|----------------------------------------------------------------|---------------------------------------------------------------------------------------------|
|                                                     | Sept.                  30,                                     | Sept.                  30,                                                                  | Sept.                  30, | Sept.                  30, |
|                                                     | 2005                                                           | 2004                                                                                        | 2005 | 2004 |
| Revenues:                                                |                                                           |                                                                                        |   |   |
| Wholesale                  finance                       |                        $ 91      |       $                  56                              |                     $ 250  |                     $ 147  |
| Retail                  finance                          |                        272       |                          210                        |                        782  |                        620  |
| Operating                  lease                         |                        197       |                          179                        |                        577  |                        533  |
| Other                                                    |                         36  |                            31             |                        117  |                        100  |
| Total                  revenues                          |                      596                   |                          476                        |                     1,726  |                      1,400  |
|                                                     |                                                           |                                                                                        |   |   |
| Expenses:                                                |                                                           |                                                                                        |   |   |
| Interest                                                 |                      202                   |                          132                        |                        563  |                       374  |
| Depreciation                  on assets leased to others |                      155                   |                          143                        |                        461  |                       425  |
| General,                  operating, and administrative  |                        77        |                            65             |                        238  |                       204  |
| Provision                  for credit losses             |                       23                   |                            20             |                          59  |                         72  |
| Other                                                    |                        9              |                              3  |                          13  |                          8  |
| Total                  expenses                          |                    466                               |                          363                        |                     1,334  |  1,083  |
|                                                     |                                                           |                                                                                        |   |   |
| Profit                  before income taxes              |                    130                               |                           113                  |                        392  |                      317  |
|                                                     |                                                           |                                                                                        |   |   |
| Provision                  for income taxes              |                      43                         |                             31       |                         132  |                      100  |
| Profit                                                   |  $                  87                               |                         $ 82                             |                      $ 260  |  $                  217  |
|                                                     |                                                           |                                                                                        |   |   |

----

**Caterpillar        Financial Services Corporation**

**Consolidated        Statement of Changes in Stockholder's        Equity**

|                                                                                                                       | Nine                  months Ended                                   |
|----------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------|
|                                                                                                                       | September                  30,                                       |   | September                  30, |
|                                                                                                                       |                      2005              |   |                       2004     |
|                                                                                                                       |                                                                 |   |   |   |   |   |   |
| Common                  stock at paid-in amount:                                                                           |                                                                 |   |   |   |   |   |   |
| Balance                  at beginning of year                                                                              | $                                      745            |   |   |   | $                     745  |   |   |
| Balance                  at end of period                                                                                  |                                        745       |   |   |   |                        745  |   |   |
|                                                                                                                       |                                                                 |   |   |   |   |   |   |
| Retained                  earnings:                                                                                        |                                                                 |   |   |   |   |   |   |
| Balance                  at beginning of year                                                                              |                    1,690                                   |   |   |   |                     1,403  |   |   |
| Profit                                                                                                                     |                       260                        |   | $260  |   |                        217  |   | $217  |
| Balance                  at end of period                                                                                  |                    1,950                                   |   |   |   |                     1,620  |   |   |
|                                                                                                                       |                                                                 |   |   |   |   |   |   |
| Accumulated                  other comprehensive income/(loss):                                                            |                                                                 |   |   |   |   |   |   |
| Foreign                  currency translation adjustment                                                                   |                                                                 |   |   |   |   |   |   |
| Balance                  at beginning of year                                                                              |                        278                  |   |   |   |                      163  |   |   |
| Aggregate                  adjustment for the period                                                                       |                      (111)                            |   | (111) |   |                       (5) |   | (5) |
| Balance                  at end of period                                                                                  |                       167                   |   |   |   |                     158  |   |   |
| Interest                  rate derivative instruments (net of tax)                                                         |                                                                 |   |   |   |   |   |   |
| Balance                  at beginning of year net of tax of: 2005 - $1; 2004 - $(9)                                        |                          -        |   |   |   |      (18) |   |   |
| Losses                  deferred during the period net                  of tax of: 2005 - $ 3; 2004 - $(19)                |                         4              |   | 4  |   |                       (33) |   | (33) |
| Losses reclassed                  to earnings during the period net                  of tax of: 2005 - $6; 2004 - $25 |                         11             |   | 11  |   |      44  |   | 44  |
| Balance                  at end of period net of tax of: 2005 - $10; 2004 - $(3)                                           |                         15             |   |   |   |                        (7) |   |   |
| Other                  instruments (net of tax)                                                                            |                                                                 |   |   |   |   |   |   |
| Balance                  at beginning of year                                                                              |                           7  |   |   |   |                         5  |   |   |
| Aggregate                  adjustment for the period                                                                       |                          (2)      |   |  (2) |   |                         1  |   | 1  |
| Balance                  at end of period                                                                                  |                           5       |   |   |   |                         6  |   |   |
| Total                  accumulated other comprehensive income                                                              |                       187                   |   |   |   |                       157  |   |   |
|                                                                                                                       |                                                                 |   |   |   |   |   |   |
| Comprehensive                  income                                                                                      |                                                                 |   | $162  |   |   |   | $224  |
|                                                                                                                       |                                                                 |   |   |   |   |   |   |
|                                                                                                                       |                                                                 |   |   |   |   |   |   |
| Total                  stockholder’s equity                                                                          | $2,882                                                          |   |   |   | $2,522  |   |   |

----

**Caterpillar        Financial Services Corporation**

**Consolidated        Statement of Cash        Flows**

|  s                                                                                                       | Sept.                  30,2005                                                                            |   | Sept.                  30,2004                                                              |
|---------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------|
| Cash                  flows from operating activities:                                                        |                                                                                                      |   |                                                                                        |
| Profit                                                                                                        |                         $   260                         |   |                     $   217                                   |
| Adjustments                  for non-cash items:                                                              |                                                                                                      |   |                                                                                        |
| Depreciation                  of equipment on operating leases and non-leased equipment                       |                               477             |   |                          441                        |
| Amortization                  of purchased discount                                                           |                             (185)                            |   |                           (99)                      |
| Provision                  for credit losses                                                                  |                                59             |   |                            72             |
| Gain                  on sale of receivables                                                                  |                               (18)            |   |                           (17)                      |
| Other                                                                                                         |                               (57)            |   |                           (20)                      |
| Change                  in assets and liabilities:                                                            |                                                                                                      |   |                                                                                        |
| Receivables                  from customers and others                                                        |                               (23)            |   |                           (36)                      |
| Other                  receivables/payables with Caterpillar                                                  |                                  1  |   |                            14             |
| Payable                  to dealers and others                                                                |                               (28)                 |   |                              8  |
| Accrued                  expenses                                                                             |                              110                   |   |                            17             |
| Income                  taxes payable                                                                         |                                52        |   |                            37             |
| Other                  assets                                                                                 |  (3)                                                                                                 |   |                              1       |
| Net                  cash provided by operating activities                                                    |                         645                                            |   |                      635                                                |
|                                                                                                          |                                                                                                      |   |                                                                                        |
| Cash                  flows from investing activities:                                                        |                                                                                                      |   |                                                                                        |
| Expenditures                  for equipment on operating leases and for non-leased                  equipment |                            (990)                             |   |                      (855)                                                   |
| Proceeds                  from disposals of equipment                                                         |                         551                                            |   |                        512                                    |
| Additions                  to finance receivables                                                             |                       (24,897)                                                        |   | (12,753)                                                                                    |
| Collections                  of finance receivables                                                           |      21,589                                                                 |   |   10,313                                                                     |
| Additions                  to retained interests in securitized wholesale receivables                         |                               -          |   |                     (6,686)                                                       |
| Collections                  of retained interests in securitized wholesale receivables                       |                              -                |   |                      5,722                                              |
| Proceeds                  from sales of receivables                                                           |                       1,178                                                      |   |                      1,311                                              |
| Notes                  receivable from Caterpillar                                                            |                            25                           |   |                           65                   |
| Investment                  in partnerships                                                                   |                              3                |   |                             5        |
| Other,                  net                                                                                   |        13                                                         |   |                            21             |
| Net                  cash used for investing activities                                                       | (2,528)                                                                                                   |   | (2,345)                                                                                     |
|                                                                                                          |                                                                                                      |   |                                                                                        |
| Cash                  flows from financing activities:                                                        |                                                                                                      |   |                                                                                        |
| Payable                  to Caterpillar - borrowings                                                          |                          315                                      |   |                        (203)                                       |
| Proceeds                  from long-term debt                                                                 |                        4,229                                                |   |      4,244                                                    |
| Payments                  on long-term debt                                                                   |                      (3,256)                                                               |   |                      (2,585)                                                 |
| Short-term                  borrowings, net                                                                   |                          615                                      |   |                          299                             |
| Net                  cash provided by financing activities                                                    |                       1,903                                                      |   |                       1,755                                             |
|                                                                                                          |                                                                                                      |   |                                                                                        |
| Effect                  of exchange rate changes on cash                                                      |                           (4)                                     |   |                      (10)                                                    |
|                                                                                                          |                                                                                                      |   |                                                                                        |
| Net                  change in cash and cash equivalents                                                      |                          16                                       |   |                            35             |
|                                                                                                          |                                                                                                      |   |                                                                                        |
| Cash                  and cash equivalents at beginning of year                                               |                          98                                            |   |                            69                  |
|                                                                                                          |                                                                                                      |   |                                                                                        |
| Cash                  and cash equivalents at end of period                                                   |                    $ 114                                                                        |   | $                  104                                                                 |

----

**Notes        to Consolidated Financial Statements**** **

| **A.** | **Use                  of estimates in the preparation of financial                  statements** |
|--------|---------------------------------------------------------------------------------------------------|

| **B.** | **Supplemental                  segment data** |
|--------|------------------------------------------------|

|   | North                  America: We have offices in the United States and Canada that serve                  local                  dealers and customers. This segment also provides project financing                  in                  various countries.                                                                                                                                                                                                                                                                      |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Europe:                  We have offices in Europe to serve European dealers and customers.                  This                  segment also includes our office in Russia, which serves dealers                  and                  customers in the Commonwealth of Independent States.                                                                                                                                                                                                                                      |
|   | Asia-Pacific:                  We have offices in Australia, New Zealand, and Asia that serve                  local                  dealers and customers.                                                                                                                                                                                                                                                                                                                                                                        |
|   | Diversified                  Services: Included is our Global Accounts Division, which primarily                  provides cross-border financing to customers in countries in which                  we have                  no local presence; Marine Services Division, which primarily finances                  marine vessels with Caterpillar engines for all countries; and                  our offices                  in Latin America that serve local dealers and                  customers.                        |
|   | Cat                  Power Finance: This segment                  primarily provides                  debt financing for Caterpillar electrical                  power generation, gas compression**, **and                  co-generation systems (including the related non-Caterpillar equipment                  included in these systems), as well as non-Caterpillar                  equipment that                  is                  powered by Caterpillar engines, for all                  countries. |

**Supplemental        segment data for the three months ended September 30,**

| **2005**                                      |   | **North                   ****America** |   | **Europe** |   | **Diversified                   ****Services** |   | **Asia-Pacific**                   |   | **Cat                  Power****Finance** | **  Total**  |
|-----------------------------------------------|--------|----------------------------------------------|--------|------------|--------|-----------------------------------------------------|--------|------------------------------------|--------|-------------------------------------------|------------------------|
| External                  revenue             |   | $                  364                       |   | 82         |   | 80                                                  |   | 53                                 |   | 17                                        | $                  596 |
| Inter-segment                  revenue        |   | $                  9                         |   | -          |   | -                                                   |   | -                                  |   | -                                         | $                  9   |
| Profit                                        |   | $                  54                        |   | 9          |   | 11                                                  |   | 8                                  |   | 5                                         | $                  87  |
| Assets                  at September 30, 2005 |   | $14,624                                      |   | 4,259      |   | 4,958                                               |   | 2,004                              |   | 1,230                                     | $27,075                |
|                                          |   |                                         |   |       |   |                                                |   |                               |   |                                      |                   |
| **2004**                                      |   | **North                   ****America** |   | **Europe** |   | **Diversified                   ****Services** |   | **Asia-                  Pacific** |   | **Cat                  Power****Finance** | **  Total**  |
| External                  revenue             |   | $                  284                       |   | 86         |   | 58                                                  |   | 33                                 |   | 15                                        | $                  476 |
| Inter-segment                  revenue        |   | $                  5                         |   | -          |   | -                                                   |   | -                                  |   | -                                         | $                  5   |
| Profit                                        |   | $                  48                        |   | 13         |   | 17                                                  |   | 1                                  |   | 3                                         | $                  82  |
| Assets                  at September 30, 2004 |   | $13,181                                      |   | 4,102      |   | 4,562                                               |   | 1,468                              |   | 1,199                                     | $24,512                |

| **Reconciliation                  of assets:** |   | **September                  30, 2005**                                                                                       |   | **September                  30, 2004**   |
|------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|
| Assets                  from segments          |   |     $27,075                                                                                          |   | $24,512                              |
| Investment                  in subsidiaries    |   |                                    (936) |   |       (917) |
| Inter-segment                  balances        |   |                                   ( 995)      |   |    (1,340)                 |
| Total                  assets                  |   |                              $25,144                              |   | $22.255                              |

**Supplemental        segment data for the nine months ended September 30,**

| **2005**                               |   | **North                   ****America** |   | **Europe** |   | **Diversified                   ****Services** |   | **Asia-Pacific** |   | **Cat                  Power****Finance** | **  Total**    |
|----------------------------------------|--------|----------------------------------------------|--------|------------|--------|-----------------------------------------------------|--------|------------------|--------|-------------------------------------------|--------------------------|
| External                  revenue      |   | $                  1,047                     |   | 261        |   | 223                                                 |   | 145              |   | 50                                        | $                  1,726 |
| Inter-segment                  revenue |   | $                  23                        |   | -          |   | -                                                   |   | -                |   | -                                         | $                  23    |
| Profit                                 |   | $                  155                       |   | 41         |   | 33                                                  |   | 16               |   | 15                                        | $                  260   |
|                                   |   |                                         |   |       |   |                                                |   |             |   |                                      |                     |
| **2004**                               |   | **North                   ****America** |   | **Europe** |   | **Diversified                   ****Services** |   | **Asia-Pacific** |   | **Cat                  Power****Finance** | **  Total**    |
| External                  revenue      |   | $                  828                       |   | 256        |   | 174                                                 |   | 96               |   | 46                                        | $                  1,400 |
| Inter-segment                  revenue |   | $                  14                        |   | -          |   | -                                                   |   | -                |   | -                                         | $                  14    |
| Profit                                 |   | $                  120                       |   | 39         |   | 38                                                  |   | 8                |   | 12                                        | $                  217   |

| **C.** | **Derivative                  Instruments and Hedging                  Activities** |
|--------|-------------------------------------------------------------------------------------|

|                                                                                                                   | **2005** |   | **2004**  |
|------------------------------------------------------------------------------------------------------------------------|----------|--------|-----------|
| Gain/(loss)                  on designated interest rate derivatives—included in Other                  revenues | $(53)    |   | $42  |
| Gain/(loss)                  on hedged debt—included in Other revenues                                           | 53  |   | (42)      |
| Gain                  on liquidated swaps—included in Interest expense                                           | 1   |   | -         |

|                                                                                                                   | **2005** |   | **2004** |
|------------------------------------------------------------------------------------------------------------------------|----------|--------|----------|
| Gain/(loss)                  on designated interest rate derivatives—included in Other                  revenues | $(50)    |   | $3  |
| Gain/(loss)                  on hedged debt—included in Other revenues                                           | 50  |   | (3)      |
| Gain                  on liquidated swaps—included in Interest expense                                           | 3   |   | 1   |

| **D.** | **Guarantees** |
|--------|----------------|

|                                                 | **September                  30, 2005** | **December                  31, 2004** |
|------------------------------------------------------|-----------------------------------------|----------------------------------------|
| Guarantees                  with Caterpillar dealers | $ 426                              | $ 364                             |
| Guarantees                  - other                  |      86        |      62       |
| Total                  guarantees                    | $ 512                              | $ 426                             |

| **E.** | **Securitized                  Assets** |
|--------|-----------------------------------------|

**F.**
**New        Accounting Standards **

** **

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

**Overview:        Third Quarter 2005 vs. Third Quarter 200****4**

|   | Revenues                  were a record $596, an increase of $120 or 25% compared with the                  same                  period last year.                                      |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Profit                  after tax was a third-quarter record $87, up $5 or 6% from a year                  ago.                                                                          |
|   | New                  retail financing was a third-quarter record $2,926, an increase                  of $533 or                  22% from the third quarter last year.                  |
|   | Past                  dues over 30 days were 1.65% of total receivables compared with                  2.18% at                  September 30, 2004.                                     |
|   | Write-offs                  of bad debts exceeded recoveries by $14 during the third quarter                  of 2005                  compared to $20 during the same period last year. |

**Forward-Looking        Statements**

**Critical        Accounting Policies**

**Three        Months Ended September 30, 2005 vs. Three Months Ended September 30,        2004**

**Revenues**

|                                                                             | **                     2005**                                                      |   | **                        2004**                              |
|----------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------|
| Fees                                                                             |         $11                                          |   |          $                  9             |
| Late                  charge income                                              |                               6  |   |                             4        |
| Gain                  on returned equipment                                      |              5              |   |                             5        |
| Currency                  exchange gain/loss                                     |                               5  |   |                             -        |
| Income                  related to retained interests in securitized receivables |              4              |   |                             3        |
| Service                  fee income on securitized receivables                   |                               4  |   |                             3        |
| Forward                  points on foreign exchange contracts                    |                               3  |   |                             1        |
| Partnership/dividend                  income                                     |                               2  |   |                             5        |
| Gain                  on sale of receivables                                     |              2              |   |                              1  |
| Miscellaneous                  other revenue, net                                |                               1  |   |                             -        |
| Write-down                  of repossessed marine vessel                         |                              (7)           |   |                             -        |
| Total                  other revenue                                             |          $36                                    |   |                         $31                              |

**Expenses**

**Profit**

**Assets**

**Managed        Assets **

|                                                                 | **2005**                                                                                      |   | **2004**                                                                                           |
|----------------------------------------------------------------------|-----------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------|
| Installment                  sale contracts securitized              | $1,079                                                                                        |   |                    $910                                                                       |
| Finance                  leases securitized                          |                         53                                      |   |                        59                                                 |
| Less:                  retained interests (included in Other assets) |                         72                                      |   |                                72 |
| Off-balance-sheet                  securitized retail receivables    |                            1,060                 |   |                              897            |
| Securitized                  wholesale receivables                   |                               240 |   |                                -  |
| Total                  securitized receivables                       |                           $1,300                      |   |          $897                                         |

|                                                    | **2005**                                                                                     |   | **2004**                                                                        |
|---------------------------------------------------------|----------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------|
| Finance                  leases                         |  $119                                                                                   |   | $                  4                                                            |
| Installment                  sale contracts             |                               43 |   |                            21      |
| Operating                  leases                       |                               38 |   |                             2 |
| Retail                  notes receivable                |                               22 |   |         14                              |
| Total                  other managed receivables/leases |                           $222                       |   |        $41                                   |

**Allowance        for Credit Losses**

|                                                              | **2005**                                                                                    |   | **2004**                                                                                    |
|-------------------------------------------------------------------|---------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------|
| Balance                  at beginning of quarter                  |                         $284                             |   |                          $255                       |
| Provision                  for credit losses                      |                             23       |   |                             20       |
| Receivables                  written off                          |                            (18)                |   |                            (24)                |
| Recoveries                  on receivables previously written off |                              4  |   |                              4  |
| Foreign                  currency translation adjustment          |                              2  |   |                              3  |
| Balance                  at end of the period                     |                       $295                                         |   |                        $258                                   |

**Past        Due Finance Receivables **

**Nine        Months Ended September 30, 2005 vs. Nine Months Ended September 30,        200****4**

**Revenues**

|                                                                             | **2005**                                                |   | **2004**                           |   |
|----------------------------------------------------------------------------------|---------------------------------------------------------|--------|------------------------------------|--------|
| Fees                                                                             |                    $  27                 |   | $                  22              |   |
| Late                  charge income                                              |                       19       |   |                    17         |   |
| Gain                  on sale of receivables                                     |                      18             |   |                    17         |   |
| Gain                  on returned equipment                                      |                      15             |   |                    10         |   |
| Income                  related to retained interests in securitized receivables |     11                         |   |    7                |   |
| Service                  fee income on securitized receivables                   |                        9       |   |                     9    |   |
| Forward                  points on foreign exchange contracts                    |                        8  |   |                     1    |   |
| Miscellaneous                  other revenue, net                                |       7              |   |                     3    |   |
| Partnership/dividend                  income                                     |                        7  |   | 14                                 |   |
| Currency                  exchange gain/loss                                     |                       3        |   |                     -    |   |
| Write-down                  of a repossessed marine vessel                       |                      (7)                 |   |                    -          |   |
| Total                  other revenue                                             | $117                                               |   |                     $100 |   |

**Expenses**

**Profit**

**Assets**

**Allowance        For Credit Losses **

|                                                              | **2005**                                                        |   | **2004**                                                        |
|-------------------------------------------------------------------|-----------------------------------------------------------------|--------|-----------------------------------------------------------------|
| Balance                  at beginning of year                     |                      $278                   |   |                      $241                   |
| Provision                  for credit losses                      |                         59   |   |                         72   |
| Receivables                  written off                          |                        (36)            |   |                        (59)            |
| Recoveries                  on receivables previously written off |                         14   |   |                         12   |
| Adjustment                  related to sale of receivables        |                        (12)            |   |                          (6) |
| Foreign                  currency translation adjustment          |                          (8) |   |                          (2)      |
| Balance                  at end of the period                     |                     $295                         |   |                      $258                   |

**Capital        Resources And Liquidity**

*Total        outstanding borrowings*
** **

| ·   | $14,738                  medium-term notes |
|--------------------|--------------------------------------------|

| ·   | $                  4,674 commercial paper |
|--------------------|-------------------------------------------|

| ·   | $                  616 short-term bank borrowings |
|--------------------|---------------------------------------------------|

| ·   | $                  456 variable denomination floating rate demand                  notes |
|--------------------|------------------------------------------------------------------------------------------|

| ·   | $                  610 notes payable to Caterpillar |
|--------------------|-----------------------------------------------------|

| ·   | $                  239 long-term bank borrowings |
|--------------------|--------------------------------------------------|

| ·   | $                  8                  loans from a company-owned partnership |
|--------------------|------------------------------------------------------------------------------|

*Revolving        credit lines*
** **
* *

*Short-term        credit lines from banks*

*Variable        amount lending agreements with Caterpillar*

*Off-balance        sheet arrangements*

*Cash        flows*

**Item        4. Controls and Procedures**

**Evaluation        of disclosure controls and procedures**

**Changes        in internal control over financial reporting**

----

**PART        II. OTHER INFORMATION**

**Item        1. Legal Proceedings**

**Item        5. Other Information**

**Item        6. Exhibits**

| Exhibit                  No. | Description                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 12                           | Ratio                  of Profit to Fixed Charges                                                                                                                                                                                                                                                                                                                                                                                                       |
| 31                           | Certifications                  of Kent M. Adams, President, Director, and Chief Executive Officer                  of                  Caterpillar Financial Services Corporation, and Edward J. Scott,                  Executive                  Vice President and Chief Financial Officer of Caterpillar Financial                  Services Corporation, as required pursuant to Section 302 of the                  Sarbanes-Oxley Act of 2002. |
| 32                           | Certification                  of Kent M. Adams, President, Director, and Chief Executive Officer                  of                  Caterpillar Financial Services Corporation, and Edward J. Scott,                  Executive                  Vice President and Chief Financial Officer of Caterpillar Financial                  Services Corporation, as required pursuant to Section 906 of the                  Sarbanes-Oxley Act of 2002.  |

**Signatures**

**Pursuant        to the requirements of the Securities Exchange Act of 1934, the Registrant        has        duly caused this report to be signed on its behalf by the undersigned, thereunto        duly authorized.**

**Caterpillar        Financial Services Corporation**

**(Registrant)**

| **Date:**November                  7, 2005** ** | **By:**/s/                  Steven R. Elsesser  |
|------------------------------------------------------|-------------------------------------------------|
|                                                 | Steven                  R. Elsesser, Controller |

| **Date:**November                  7, 2005 | **By:**/s/                  Kent M. Adams                                                         |
|--------------------------------------------|---------------------------------------------------------------------------------------------------|
|                                       | Kent                  M. Adams, President, Director, and Chief Executive                  Officer |