PROSPECTUS                 Pricing Supplement No. 1970 
Dated April 1, 1994        Dated August 17, 1994
PROSPECTUS SUPPLEMENT      Rule 424(b)(3)-Registration Statement
Dated April 1, 1994              No. 33-50909


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

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

Principal Amount (in Specified Currency):  CHF 50,000,000

Settlement Date (Original Issue Date): August 24, 1994

If Specified Currency is other than US  dollars,
equivalent amount in US dollars: US$38,285,000(*)
  (*)  Based on the August 17, 1994 exchange rate of 
       CHF 1 = US$ 0.7657

Maturity Date: August 28, 1996

Agent's Discount or Commission: .000%

Price to Public (Issue Price):  100.000%

Net Proceeds to Issuer (in Specified Currency):  CHF 50,000,000

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 (as described below under "Additional Terms")

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

  Index Maturity:  Six Months
  Index Currency: Swiss francs

  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. 1970 
                       Dated August 17, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-50909




  Alternate Rate Event Spread:  N/A

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

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

  Interest Payment Dates if other than as set forth in the
  Prospectus Supplement:  February 28, 1995, August 28, 1995,
       February 28, 1996 and August 28, 1996

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

  Interest Determination Dates if other than as set forth in the
  Prospectus Supplement:  The second London Business Day
       preceding each Interest Reset Date.

Form of Notes: 

  The Notes will be issued in the form of a temporary global
  bearer note, without interest coupons, which will be deposited
  with or on behalf of a common depositary for Morgan Guaranty
  Trust Company of New York, Brussels office, as operator of the
  Euroclear System (the "Euroclear Operator"), and Cedel, societe
  anonyme ("Cedel") for credit to the account designated by or on
  behalf of the purchaser thereof.  The interests of the
  beneficial owner or owners in the temporary global bearer note
  will be exchangeable after the expiration of the Restricted
  Period for an interest in a permanent global bearer note as
  described in the Prospectus Supplement under the caption
  "DESCRIPTION OF NOTES--Forms, Denominations, Exchange and
  Transfer".

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


                      (Floating Rate Notes)
                                                       Page 3
                       Pricing Supplement No. 1970 
                       Dated August 17, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-50909




Amortizing Notes:

  Amortization Schedule:  N/A

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:

  References herein to "CHF" or "Swiss francs" are to the lawful
currency of Switzerland.

  The Chase Manhattan Bank, N.A. (London Branch) will act as the
Calculation Agent for the Notes.

Plan of Distribution:

  Swiss Bank Corporation, Zurich is acting as agent (the "Swiss
  Agent") in connection with the distribution of the Notes
  pursuant to the terms of an Agent Accession Letter dated August
  17, 1994 executed under the Company's Amended and Restated Euro
  Distribution Agreement, dated August 31, 1993, as amended.