PROSPECTUS                 Pricing Supplement No. 1974 
Dated April 1, 1994        Dated August 17, 1994
PROSPECTUS SUPPLEMENT      Rule 424(b)(3)-Registration Statement
                                No. 33-50909
Dated April 1, 1994        Rule 424(b)(3)-Registration Statement
                                No. 33-54009

              GENERAL ELECTRIC CAPITAL CORPORATION
                    GLOBAL MEDIUM-TERM NOTES
                      (Floating Rate Notes)

Series:  A X    B __   C __           Trade Date: August 17, 1994

Principal Amount (in Specified Currency):  US$200,000,000

Settlement Date (Original Issue Date):  August 22, 1994

If Specified Currency is other than U.S. dollars,
equivalent amount in U.S. dollars:  N/A

Maturity Date:  August 22, 1996

Agent's Discount or Commission:  0.0925%
Price to Public (Issue Price):  100.00%

Net Proceeds to Issuer (in Specified Currency):  US$199,815,000

Interest Rate:

  Interest Calculation:
  X  Regular Floating Rate
  __ Inverse Floating Rate
  __ Other Floating Rate

  Interest Rate Basis:
  __ CD Rate   __ Commercial Paper Rate   __ Federal Funds Rate
  X  LIBOR   __ Prime Rate  __ Treasury Rate   __ Other

  Spread (Plus or Minus):  0.00
  Spread Multiplier:  N/A

  Index Maturity:  3 Months
  Index Currency: US Dollars

  Maximum Interest Rate:  N/A
  Minimum Interest Rate: N/A



CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE DEFINED
IN THE PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO
THEM IN THE PROSPECTUS SUPPLEMENT.


                      (Floating Rate Notes)
                                                       Page 2
                       Pricing Supplement No. 1974 
                       Dated August 17, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-58506
                       Rule 424(b)(3)-Registration Statement
                                No. 33-54009
            



  Alternate Rate Event Spread:

  Initial Interest Rate Per Annum:  To be determined two London
       Business Days prior to the Original Issue Date based upon
       application of the interest rate formula.

  Interest Payment Period:
  __ Annual    __ Semi-Annual    __ Monthly    X  Quarterly

  Interest Payment Dates if other than as set forth in the
  Prospectus Supplement:  Each May 22, August 22, November 22 and
       February 22, commencing on November 22, 1994 and ending on
       the Maturity Date

  Interest Reset Periods and Dates:
  __ Daily    __ Weekly    __ Monthly
  X  Quarterly (On each Interest Payment Date)
  __ Semiannually
  __ Annually

  Interest Determination Dates if other than as set forth in the
  Prospectus Supplement:  Two London Business Days prior to each
       Interest Reset Dates.

Form of Notes:   X  DTC registered        __ non-DTC registered

Repayment, Redemption and Acceleration:

  Optional Repayment Date:  N/A
  Annual Redemption Percentage Reduction:  N/A
  Initial Redemption Date:  N/A
  Initial Redemption Percentage:  N/A

Original Issue Discount

  Amount of OID:  N/A
  Interest Accrual Date:  N/A
  Yield to Maturity:  N/A
  Initial Accrual Period OID:  N/A

Amortizing Notes:

  Amortization Schedule:  N/A


                      (Floating Rate Notes)
                                                       Page 2
                       Pricing Supplement No. 1974 
                       Dated August 17, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-58506
                       Rule 424(b)(3)-Registration Statement
                                No. 33-54009
            


Dual Currency Notes:

  Face Amount Currency:  N/A
  Optional Payment Currency:  N/A 
  Designated Exchange Rate:  N/A

Indexed Notes:

  Currency Base Rate: N/A 

Additional Terms:

  Morgan Guaranty Trust Company will act as the Calculation Agent
with respect to the Notes.

Plan of Distribution:

  J.P. Morgan Securities Inc. is acting as Agent in connection
  with the distribution of the Notes.  The Agent will receive a
  commission equal to 0.0925% of the aggregate principal amount of
  the Notes.