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1/ F E D E R A L R s t a t i s t i c a l Gi 10 E S E R V E r e l e a s e For immediate; r e l e a s e : V V March 9, 1973 INTEREST RATES CHARGED ON SELECTED TYPES OF BANK LOANS Type"of Loan : ' Small s h o r t - t e r m rioninstalmen|: -loans t o b u s i n e s s e s JL/ Farm p r o d u c t i o n l o a n s (one y e a r or . l e s s m a t u r i t y ) Feeder c a t t l e o p e r a t i o n s Other farm p r o d u c t i o n o p e r a t i n g expenses , I n t e r e s t r a t e ( p e r c e n t per annum) January January February % 1972 -1973 1973 G 7.31 7 .70 i 7 .71 $ 7 .55 f 1 - 7,.63 7 .74 7 .70 • 7 .89 7 .90 ' 10 .01 10,.54 10..05 10..76, Consumer i n s t a l m e n t c r e d i t f o r : New a u t o m o b i l e s (36 months) 10.,26 Mobile homes (84 months) . 10.,94 O t h e r consumer goods J (24 months) 12. 57 Other p e r s o n a l e x p e n d i t u r e s 12 ..74 • x (121 months') C r e d i t ; card: p l a n s 17, 11 12..46 12.,65 17 ..13 If 12 •,51 12. 76 17. 16 Note: The i n t e r e s t r a t e s shown on t h i s r e l e a s e a r e based on a s u r v e y c o n d u c t e d j o i n t l y by t h e F e d e r a l R e s e r v e System and t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n of l o a n s made d u r i n g t h e f i r s t f u l l c a l e n d a r week of each month by a s a m p l e , o f : 370 i n s u r e d commercial b a n k s . They r e p r e s e n t s i m p l e unweighted a v e r a g e s of t h e "most common11 e f f e c t i v e annual r a t e r e p o r t e d by r e s p o n d e n t s irk each l o a n c a t e g o r y . The "most common" r a t e i s d e f i n e d a!s t h e r a t e charged pn t h e l a r g e s t d o l l a r rvolume of l o a n s i n t h e p a r t i c u l a r c a t e o g o r y d u r i n g t h e week covered i n t h e s u r v e y . Consumer . i n s t a l m e n t l o a n r a t e s a r e r e p o r t e d on a T r u t h - i n - L e n d i n g b a s i s as s p e c i f i e d i n t h e F e d e r a l R e s e r v e Board *js R e g u l a t i o n Z. _1/ Loans of $10,000 t o $25,C!00 m a t u r i n g i n one y e a r or l e s s .
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