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• BOARD OF" GOVERNORS OF" THE FEDERAL RESERVE SYSTEM WASHINGTON, D. C. 20551 ADD .. E8S DF'F'ICIAI. CDRRE8PDNDENCE I.Js~ 1976 ,l:'tB 3 ~.ty ~·~ 19?o TO THE 8DARD January 26, OjCif~~ NOTICE • • • Attached is a quarterly Federal Reserve Statistical release numbered E.lO, entitled "Finance Rates and Other Terms on Selected Types of Consumer Instalment Credit Extended by Major Finance Companies." The E.lO is a continuation of the former bimonthly release numbered J.3, but will be available only on a quarterly basis. In addition, several small finance companies have been eliminated from the reporting sample, but their omission has only negligible impact on the figures. Thus all the E.lO data series can be regarded as continuous with the J.3 series. Historical data are available upon request from the Mortgage and Consumer Finance Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, D.C. 20551 . • • • • • • • ~)~-(t•. • • • • • • • • • e_l_e_a_s_~---- _FIIIIIIE_D..,..E_R A_L_...R_E_S_E_R_V_E ..... _____t_a_t_i_st-i_,a_l_r s ··.~o ".!<-:' ··~~ ...!>~":"·· . ······· JANUARY 21:, !976 E. 10 FINANCE RATES AND OTHER TERMS ON SELECTED TYPES OF CONSUMER INSTALMENT CREDIT 'EXTENDED BY MAJOR FINANCE COMPANIES !NOT SEASONALLY ADJUSTED) --------------------------------------------------~---------~------------------------------------------------------- If II II PERSONAL LOANS II II II MOBILE HOME CREDIT lf"OTHER CONSUMER GOODS" 1/ CREDIT II II l-------------~------------------ll-------------------------------I I AVERAGE I AVERAGE I I I AVERAGE I AVERAGE I AVERAGE II FINANCE I AMOUNT I AVERAGE II FINANCE I AMOUNT I AVERAGE MATURITY I I RATE I FINANCED I MATURITY I I RATE I FINANCED I MATURITY !MONTHS) tlfPER CENTJI (OOLLARSJI (MONTHS) IICPER CENT)! (DOLLARSll (MONTHS) I1--------------------------------1 AVERAGE I AVERAGE I 1I PERIOD I I FINANCE I AMOUNT I II RATE I FINANCED I tiCPER CENTJI fDOLLAR.S)I -----------------------------------------------------------------------------------------~-------------------------- I r 1974 FEBRUARY MAY AUGUST NOV EMS Ell 7, 11t2 120.8 18.90 439 21.7 1,202 35.1 ... ... 13.60 ..,.,_, 608 122.6 19.49 436 20.4 •· 36.9 .. ... 13.57 7,715 468 21.5 13.43 8t162 ... 19.63 .6 ... 121.9 122.6 19.66 475 21.3 21.09 I 1,3oq 1975 FEBRUARY MAY AUGUST NOVEMBER 13.08 1,328 21.11 ... ... I ... 35.6 20.72 ... 20.54 ... ... 1 '207 I I I I I I I I I I ... ~6 ••• ... ... ... -----------------------------------------------------------------~-------------------------------------------------- [ 1/ EXCLUDES AUTOMOBILES, RECREATIONAL VEHICLES, AND MOBILE HOMES NOTE: THE DATA SHOWN IN THIS TABLE ARf COMPILED FROM A QUARTERLY SURVEY CONDUCTED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. FOR MOaiLE HOMES AND "OTHER CONSUMER GOODS," THE DATA COVER CONTRACTS PURCHASED BY FINANCE COMPANIES, PRIMARILY FROM RETAIL OUTLETS; FOR PERSONAL LOANS, THEY COVER SECURED AND UNSECURED LOANS MADE DIRECTLY BY FINANCE COMPANIES FOR HOUSEHOLD, FAMILY, OR OTHER PERSONAL EXPENDITURES. RATES ARE AVERAGE WSTOMER FINANCE RATES REPOPTED ON AN ANNUAL PERCENTAGE RATE BASIS AS SPECIFIED IN THE FEDERAL RESERVE BOARD'S REGULATION Z CTRUTt:t-IN-LENDJNG).. AVERAGE AMOUNT FINANCED STATISTICS DO NOT INCLUOE PRECOMPUTED FINANCE CHARGES. AVERAGE RATE ANO MATURITY DATA ARE PER DOLLAR FINANCED. ' •Sup-~t• E.lO- -~ \)t-.\t-. ~t-.~'l \..\V> • • • • • ~- ·-··- ~· . • -•7s-s- _. ~~- ~\\..~ .fl.\ • st~" ~ ~t-.~'& Finance Rates and Other Terms on Selected Types of Consumer Instalment Credit Extended by Major Finance Companies (Not Seasonally Adjusted) l.tsRA.R . 1 t"t: I 1,./:l !fl;>~~,. 1 ~~ rtl~~ ~t\)'t."' ~~ c~· Period - ..Jt Personal loans Average finance rate (per cent) Average amount financed (dollars) Average finance rate (per cent) . -. Average amount financed (dollars) .. ~ - Average maturity (months) ... ~ -· ot p;.se~~ "Other consumer goods" cred1 1~GJ' Mobile home credit Average maturity (months) . --- --·-· .. ...• .-~- Average finance rate (per cent) -- --~--~·-~ .-... ~-· Average amount financed (dollars) ··- ._ - ........._. _J• .. ~ •• -- --- Average maturity (months) 1972 March Nay July Sept. Nov. 21.10 21.12 21.14 20.94 21.15 980 1026 1010 1025 1005 32.4 32.5 32.2 32.5 32.4 12.61 12.32 12.28 12.45 12.43 5983 6224 6347 6534 6476 102.7 104.6 105.9 108.2 112.4 19.85 19.37 19.44 19.18 18.90 369 384 381 397 393 ----· 21.0 21.3 21.2 21.3 21.4 1973 Jan. March May July Sept. Nov. 20.89 20.64 20.63 20.40 20.47 20.62 1011 1067 1114 1147 1104 1125 32.3 33.2 34.3 33.6 33.6 34.2 12.53 12.56 12.75 12.79 12.93 13.14 6366 6447 6631 6772 6963 6879 112.6 114.2 115.9 116.7 118.5 118.5 19.06 18.92 18.88 18.93 18.68 18.77 385 403 409 408 407 407 20.9 21.2 21.9 21.6 21.1 21.4 1974 Jan. March }'f.ay July· Sept. Nov. 20.64 20.53 20.54 20.74 20.87 21.11 1098 1149 1207 1175 1180 1202 33.6 34.5 35.6 35.4 35.0 35.1 13.27 13.15 13.08 13.22 13.43 13.60 6901 6982 7142 7519 7670 7608 119 .o 119.8 120.8 123.0 123.8 122.6 18.90 18.69 18.90 19.25 19.31 19.49 411 449 439 431 437 436 20.9 21.7 21.7 21.2 20.6 20.4 , 79; • ~ • E.lO Supp.t (continued) • • • • • --- ------~ • ---- --- • - --·-··· .. - --- • Finance Rates and- Other Terms on Selected Types of Consumer Instalment Credit Extended by Major Finance Companies (Not Seasonally Adjusted) Personal loans Period Average finance rate (per cent) .. 1975 Jan. March May July Sept. Nov. 20.99 20.82 20.72 20.93 21.16 21.09 1976 Average amount financed (dollars) ·- 1200 1256 1328 1307 1227 1309 Mobile home credit Average finance rate (per cent) Average maturity (months) ---- 35.1 35.6 36.9 36.6 36.9 36.6 -- Average amount financed (dollars) --- -- 13.60 13.59 13.57 13.78 13.78 13.43 - . . 7366 7479 7715 7644 7814 8162 Average finance rate (per cent) Average maturity (months) - ' '" "Other consumer goods" credit - .........-·-- - -- ·-- 120.2 120.4 121.9 121.1 119.8 122.6 ·~ -·-- f;_-~ 19.80 20.00 19.63 19.87 19.69 19.66 -,- ::-.o:.---· -. Average amount financed (dollars) ... ' --- .. 425 453 468 477 474 475 -- Average maturity (months) ··-· --20.3 20.6 21.5 21.3 21.4 21.3
