UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                   FORM 8-K

              CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                  THE SECURITIES AND EXCHANGE ACT OF 1934

       Date of report (Date of Earliest Event Reported:  (06-08-99)

                    GENERAL MOTORS ACCEPTANCE CORPORATION
                    -------------------------------------
              (Exact name of registrant specified in its charter)

                                    Delaware
       ------------------------------------------------------------
      (State or other jurisdiction of incorporation or organization)

          1-3754                                 38-0572512
   --------------------               ----------------------------------
  (Commission File No.)              (I.R.S. Employer Identification No.)

        3044 West Grand Boulevard, Detroit, Michigan        48202
        --------------------------------------------        -----

                                 313-556-1508
           --------------------------------------------------
          (Registrant's telephone number, including area code)



<PAGE>



ITEM 5.  OTHER EVENTS


                       GMAC BUYS BNY FINANCIAL CORPORATION

             ACQUISITION POSITIONS GMAC TO BECOME INDUSTRY LEADER IN
                        ASSET-BASED LENDING AND FACTORING

                        --------------------------------


     General  Motors  Acceptance  Corporation  (GMAC)  and The  Bank of New York
     announced an agreement  today for GMAC to acquire the  asset-based  lending
     and  factoring  business  of the bank.  The  acquired  business  unit,  BNY
     Financial  Corporation  and its affiliates  (BNYFC),  is one of the leading
     asset-based  lending  and  factoring  operations  in North  America and the
     United  Kingdom with nearly 3,000 clients  worldwide.  The  transaction  is
     targeted  to close  by the end of the  second  quarter  and is  subject  to
     customary regulatory approvals.

     "This is an  outstanding  opportunity  for GMAC to acquire  an  established
     asset-based  lending and factoring  company with an experienced  management
     team that has achieved 17  consecutive  years of increased  profits,"  said
     GMAC Chairman John D. Finnegan.  "The acquisition of BNYFC will enable GMAC
     to expand its existing asset-based lending business  internationally and to
     enter the  factoring  business in a  substantial  way. It will provide GMAC
     with a solid platform to become an industry leader in commercial  finance,"
     Finnegan added.

     BNYFC,  headquartered  in New  York  City,  has 15  offices  and  over  900
     employees  worldwide.  In 1998, BNYFC reported $26.7 billion in total sales
     and $3.9 billion in total assets. BNYFC will be purchased for $1.8 billion.
     The  name of the  new  GMAC  subsidiary  will  be  GMAC  Commercial  Credit
     Corporation.

     BNYFC  Chairman and CEO Joseph A. Grimaldi said, "We are very excited about
     becoming a member of the GMAC family and their  commitment to our business.
     They are committed to our  customers,  our employees and our future growth.
     This  transaction  will be  transparent  to our valued  customers  with the
     exception  of a  name  change,  as the  same  people  with  whom  they  are
     accustomed to doing  business will continue to service them.  Our employees
     will retain their individual positions and titles."

     Mr. Grimaldi will  become President and  CEO of the new subsidiary and will
     report directly to John D. Finnegan.

     GMAC, a wholly owned  subsidiary of General Motors  Corporation,  is one of
     the world's  largest  financial  services  companies with business lines in
     automotive finance, commercial and residential mortgages, and insurance. At
     March 31, 1999,  GMAC's owned  assets and serviced  automobile  receivables
     exceeded  $140 billion and combined  serviced  assets of the GMAC  Mortgage
     Group exceeded $250 billion.




                                  SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has  duly  caused  this  report  to be  signed  on  its  behalf  the
undersigned hereunto duly authorized.



                                     GENERAL MOTORS ACCEPTANCE CORPORATION
                                     -------------------------------------
                                                  (Registrant)




Dated:     June 8, 1999          By
           ------------
                                     s/  Gerald E. Gross
                                     -------------------------------------
                                     Gerald E. Gross, Comptroller
[{"type": "8-K", "sequence": "1", "description": "ITEM 5 - OTHER EVENTS", "secsgml_size_bytes": 4872}]
{"company-data": {"conformed-name": "GENERAL MOTORS ACCEPTANCE CORP", "cik": "0000040729", "assigned-sic": "6141", "irs-number": "380572512", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-03754", "film-number": "99641871"}, "business-address": {"street1": "3044 W GRAND BLVD", "city": "DETROIT", "state": "MI", "zip": "48202", "phone": "3135561508"}}
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                   FORM 8-K

              CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                  THE SECURITIES AND EXCHANGE ACT OF 1934

       Date of report (Date of Earliest Event Reported:  (06-08-99)

                    GENERAL MOTORS ACCEPTANCE CORPORATION
                    -------------------------------------
              (Exact name of registrant specified in its charter)

                                    Delaware
       ------------------------------------------------------------
      (State or other jurisdiction of incorporation or organization)

          1-3754                                 38-0572512
   --------------------               ----------------------------------
  (Commission File No.)              (I.R.S. Employer Identification No.)

        3044 West Grand Boulevard, Detroit, Michigan        48202
        --------------------------------------------        -----

                                 313-556-1508
           --------------------------------------------------
          (Registrant's telephone number, including area code)
ITEM 5.  OTHER EVENTS

                       GMAC BUYS BNY FINANCIAL CORPORATION

             ACQUISITION POSITIONS GMAC TO BECOME INDUSTRY LEADER IN
                        ASSET-BASED LENDING AND FACTORING

                        --------------------------------

     General  Motors  Acceptance  Corporation  (GMAC)  and The  Bank of New York
     announced an agreement  today for GMAC to acquire the  asset-based  lending
     and  factoring  business  of the bank.  The  acquired  business  unit,  BNY
     Financial  Corporation  and its affiliates  (BNYFC),  is one of the leading
     asset-based  lending  and  factoring  operations  in North  America and the
     United  Kingdom with nearly 3,000 clients  worldwide.  The  transaction  is
     targeted  to close  by the end of the  second  quarter  and is  subject  to
     customary regulatory approvals.

     "This is an  outstanding  opportunity  for GMAC to acquire  an  established
     asset-based  lending and factoring  company with an experienced  management
     team that has achieved 17  consecutive  years of increased  profits,"  said
     GMAC Chairman John D. Finnegan.  "The acquisition of BNYFC will enable GMAC
     to expand its existing asset-based lending business  internationally and to
     enter the  factoring  business in a  substantial  way. It will provide GMAC
     with a solid platform to become an industry leader in commercial  finance,"
     Finnegan added.

     BNYFC,  headquartered  in New  York  City,  has 15  offices  and  over  900
     employees  worldwide.  In 1998, BNYFC reported $26.7 billion in total sales
     and $3.9 billion in total assets. BNYFC will be purchased for $1.8 billion.
     The  name of the  new  GMAC  subsidiary  will  be  GMAC  Commercial  Credit
     Corporation.

     BNYFC  Chairman and CEO Joseph A. Grimaldi said, "We are very excited about
     becoming a member of the GMAC family and their  commitment to our business.
     They are committed to our  customers,  our employees and our future growth.
     This  transaction  will be  transparent  to our valued  customers  with the
     exception  of a  name  change,  as the  same  people  with  whom  they  are
     accustomed to doing  business will continue to service them.  Our employees
     will retain their individual positions and titles."

     Mr. Grimaldi will  become President and  CEO of the new subsidiary and will
     report directly to John D. Finnegan.

     GMAC, a wholly owned  subsidiary of General Motors  Corporation,  is one of
     the world's  largest  financial  services  companies with business lines in
     automotive finance, commercial and residential mortgages, and insurance. At
     March 31, 1999,  GMAC's owned  assets and serviced  automobile  receivables
     exceeded  $140 billion and combined  serviced  assets of the GMAC  Mortgage
     Group exceeded $250 billion.

                                  SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has  duly  caused  this  report  to be  signed  on  its  behalf  the
undersigned hereunto duly authorized.

                                     GENERAL MOTORS ACCEPTANCE CORPORATION
                                     -------------------------------------
                                                  (Registrant)

Dated:     June 8, 1999          By
           ------------
                                     s/  Gerald E. Gross
                                     -------------------------------------
                                     Gerald E. Gross, Comptroller