Registration No. 333-22569 Rule 424 b)(2)
                                     Pricing Supplement No:108 Cusip:14912LVY4
                                     Dated:  July 23, 1997     

	Caterpillar Financial Services Corporation
	Medium-Term Notes, Series F
	(Floating Rate)
	With Maturities of 9 Months or More from Date of Issue

Principal Amount:       Initial Interest Rate:         Proceed Amount: 
$30,000,000               3 mth Libor + 3 BPS          $29,925,000    
                          Initial Rate(5.78)                  
Original Issue Date:                                     Maturity Date:       
07/23/97                                                  01/20/2000          

                         Index Maturity:               Spread +/-:
                          Quarterly                     + 3 BPS 

Specified Currency:     Option to Elect Payment       Authorized Denominations
x U.S. dollars          in U.S. dollars               (only applicable if
_ Other:___________     (only applicable if           Specified Currency is
                        Specified Currency is         other than U.S.
                        other than U.S. dollars):      N/A     
                           N/A                              

The Note is a:                                        Exchange Rate Agent     
    X Global Note                                     (if other than First    
      Certificated Note                                 Trust New York): N/A  
      (only applicable if
      Specified Currency                                
      is other than U.S. dollars)                     Spread Multiplier: N/A  
                                                       
Interest Rate Basis or Bases: 3 mth Libor (Two London Business Days prior
	                    to Coupon Pay Dates)              
               
LIBOR Source (only applicable if LIBOR Interest Rate Basis):
   Reuters         X  Telerate

Maximum Interest Rate:  N/A             Interest Payment Period: Quarterly

Interest Payment Dates: Coupons will  pay/reset on the 20th of each Jan, 	 
	 Apr, July, and Oct modified following convention. 
	 Initial payment due 10/20/97.

Minimum Interest Rate: N/A

Interest Rate Reset Option:  _ Yes    x No

Optional Reset Dates (only applicable if option to reset spread or spread 
multiplier): N/A

Basis for Interest Rate Reset (only applicable if option to reset spread or 
spread multiplier): N/A

Minimum Interest Rate:  N/A              Interest Payment Dates:  N/A

Stated Maturity Extension Option:  _ Yes    X No

Extension Period(s) and Final Maturity Date (only applicable if option to 
extend stated maturity):  N/A


Basis for Interest Rate During Extension Period (only applicable if option to 
extend stated maturity):  N/A


Historical Exchange Rate (only applicable if Specified Currency other than 
U.S. dollars):  N/A


Interest Payment Dates: Coupons will  pay/reset on the 20th of each Jan, 	 
	 Apr, July, and Oct modified following convention. 
	 Initial payment due 10/20/97.

Interest Determination Dates: Two London business days prior to the reset     
                              date.

Calculation Agent (if other than First Trust New York):  N/A

Original Issue Discount Note:  Total Amount of OID: N/A Terms of Amortizing   
     __ Yes    x No                                       Notes: N/A
                               Issue Price (expressed                         
                                 as a percentage of    
                               aggregate principal 
                               amount): 100%
                           
                                                      
Redemption Date(s) (including                      Redemption Price(s): N/A  
any applicable regular or                  
special record dates): N/A  
	                             
Repayment Date(s) (including                       Repayment Price(s):  N/A   
 any applicable regular or
special record dates): N/A
	                             
Other Terms: N/A

     The interest rates on the Notes may be changed by Caterpillar Financial 
Services Corporation from time to time, but any such change will not affect 
the interest rate on any Note ordered prior to the effective date of the 
change.  Prior to the date of this Pricing Supplement, $1,162.50MM principal 
amount of the Notes had been sold at interest rates then in effect.



	_________________________________

	Pricing Supplement to Prospectus Supplement dated March 7, 1997
	and Prospectus dated March 7, 1997