PROSPECTUS                      Pricing Supplement No. 3198
Dated January 10, 1995          Dated August 26, 1998
PROSPECTUS   SUPPLEMENT         Rule   424(b)(3)-Registration
                                Statement No. 333-07469
Dated January 25, 1995

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

Trade Date:  August 26, 1998

Settlement Date (Original Issue Date):   August 31, 1998

Maturity Date: August 31, 2001

Principal Amount (in Specified Currency):  US$25,000,000

Price to Public (Issue Price):            The  Notes  are   being
                         purchased  by the Underwriter at  99.80%
                         of   their  principal  amount  less  the
                         Underwriter's  Commission  and  will  be
                         sold  at varying prices to be determined
                         at the time of sale.  For any Notes sold
                         with  more  than a de minimis amount  of
                         original  issue  discount,  see  "United
                         States   Tax  Considerations"   in   the
                         accompanying Prospectus Supplement.  For
                         further information with respect to  any
                         discounts,  commissions  or  profits  on
                         resales  of  Notes that  may  be  deemed
                         underwriting  discounts or  commissions,
                         see "Plan of Distribution" below

Agent's Discount or Commission:  0.00%

Net Proceeds to Issuer (in Specified Currency):  US$25,000,000

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

  Interest Rate Basis:  _ CD Rate   _ Commercial Paper  Rate    X
  Federal  Funds Rate (See "Additional Terms--Interest" below)  _
  LIBOR    _  Prime  Rate   _  Treasury  Rate    _  Other    (See
  "Additional Terms--Interest" below).

  Spread (Plus or Minus):  plus 0.200%  Spread Multiplier:  N/A

  Index Maturity:  N/A           Index Currency:  N/A

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

  Interest Payment Period:  Quarterly

                  Interest Payment Dates:  Each February 28,  May
                  31,  August  31  and  November  30,  commencing
                  August  31,  1998 (with respect to  the  period
                  from  and  including August  26,  1998  to  but
                  excluding August 31, 1998), and ending  on  the
                  Maturity Date.

                         Initial  Interest Rate Per  Annum:    To
                         be  determined one Business Day prior to
                         the Original Issue Date.

                         Interest   Reset  Periods   and   Dates:
                         Daily,  on  each  Business  Day,  except
                         that  the  interest rate in  effect  for
                         the  two  Business Days  preceding  each
                         Interest  Payment  Date  will   be   the
                         interest  rate in effect on  the  second
                         Business  Day  preceding  such  Interest
                         Payment Date.


                         Interest  Determination Dates:       One
                         Business  Day  prior  to  each  Interest
                         Reset Date.

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
                      Amended Pricing Supplement No. 3198
                      Dated August 26, 1998
                      Rule 424(b)(3)-Registration Statement
                      No. 333-07469
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

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:

  Interest.

  The  interest  rate  applicable to each  daily  Interest  Reset
  Period  will  equal the Federal Funds Rate (as defined  in  the
  Prospectus Supplement) plus the Spread set forth on  the  cover
  page  of  this  Pricing Supplement.  Interest will  be  payable
  quarterly  on each February 28, May 31, August 31 and  November
  30,  commencing on August 31, 1998 (with respect to the  period
  from and including August 26, 1998 to but excluding August  31,
  1998),  and  on  the Maturity Date (each, an "Interest  Payment
  Date").   Interest will reset  daily on each Business Day  (the
  "Interest Reset Date") from the Original Issue Date up  to  but
  excluding the Maturity Date, except that the interest  rate  in
  effect  for  the  two  Business Days  preceding  each  Interest
  Payment Date will be the interest rate in effect on the  second
  Business  Day  preceding  such  Interest  Payment  Date.    The
  Interest  Determination Date with respect to an Interest  Reset
  Date  will  be  one Business Day prior to such  Interest  Reset
  Date.  Interest payments on the Notes will equal the amount  of
  interest   accrued  from  and  including  the  next   preceding
  Interest  Payment  Date in respect of which interest  has  been
  paid  (or  from and including the Original Issue  Date,  if  no
  interest  has  been  paid with respect to  the  Notes)  to  but
  excluding the related Interest Payment Date.
                (Floating Rate Notes)
                                Page 3
                      Pricing Supplement No. 3198
                      Dated August 26, 1998
                      Rule 424(b)(3)-Registration Statement
                      No. 333-07469

  The Calculation Agent for the Notes will be J.P. Morgan 
  Securities Inc.

  General

  At  June  27,  1998,  the Company had outstanding  indebtedness
  totalling $144.969 billion, consisting of notes payable  within
  one  year, senior notes payable after one year and subordinated
  notes  payable after one year.  The total amount of outstanding
  indebtedness  at  June  27, 1998 excluding  subordinated  notes
  payable after one year was equal to $144.272 billion.

  Consolidated Ratio of Earning to Fixed Charges.

  The  information contained in the Prospectus under the  caption
  "Consolidated  Ratio of Earnings to Fixed  Charges"  is  hereby
  amended in its entirety, as follows:

      Year Ended December 31,      Six Months Ended
     1993  1994  1995  1996 1997   June 27,1998
     1.62  1.63  1.51  1.53 1.48   1.50

  For  purposes of computing the consolidated ratio  of  earnings
  to  fixed  charges,  earnings consist of net earnings  adjusted
  for  the  provision  for  income taxes, minority  interest  and
  fixed  charges.  Fixed charges consist of interest and discount
  on  all  indebtedness  and  one-third  of  rentals,  which  the
  Company  believes is a reasonable approximation of the interest
  factor of such rentals.


Documents Incorporated by Reference.

  The  information  contained  in the  Prospectus  in  the  first
  paragraph of text under the caption "Documents Incorporated  by
  Reference"  is  hereby  amended in its  entirety,  as  follows:
  There  are  hereby incorporated in the Prospectus by  reference
  the  Company's  Annual Report on Form 10-K for the  year  ended
  December 31, 1997, and the Company's Quarterly Reports on  Form
  10-Q  for the quarters ended March 28, 1998 and June 27,  1998,
  heretofore  filed  with the Securities and Exchange  Commission
  pursuant  to  the Securities Exchange Act of 1934, as  amended,
  to which reference is hereby made.


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
  selling  commission equal to 0.200% of the principal amount  of
  the Notes.