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^o*-ov?y FEDERAL llll! statistical •f*4LRB^** G.10 RESERVE release For immediate r e l e a s e A p r i l 8 , 1977 INTEREST RATES ON SELECTED CONSUMER INSTALMENT LOANS AT REPORTING COMMERCIAL BANKS I n t e r e s t R a t e ( P e r c e n t p e r annum) February 1976 January 1977 February 1977 New a u t o m o b i l e s (36 months) 11.18 10.99 11.14 Mobile homes (84 months) 11.77 11.79 11.83 O t h e r consumer goods (24 months) 13.02 12.87 12.95 Other personal expenditures (12 months) 13.24 13.37 13.23 C r e d i t card plans 17.14 16.93 16.89 NOTE: The i n t e r e s t r a t e s shown i n t h i s r e l e a s e a r e b a s e d on a s u r v e y cond u c t e d by t h e F e d e r a l R e s e r v e System, w i t h 251 banks r e s p o n d i n g t o t h e s u r v e y i n F e b r u a r y . Banks r e p o r t i n g i n each c a t e g o r y numbered: new a u t o m o b i l e s , 239; mobile homes, 58; o t h e r consumer g o o d s , 183; o t h e r p e r s o n a l e x p e n d i t u r e s , 234; c r e d i t c a r d p l a n s , 162. A l l r a t e s shown r e p r e s e n t s i m p l e u n w e i g h t e d a v e r a g e s of each b a n k ' s "most common" r a t e c h a r g e d 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 t h e month i n 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 as t h e r a t e c h a r g e d on t h e l a r g e s t d o l l a r volume 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 g o r y during the survey week. Rates r e p o r t e d a r e "annual p e r c e n t a g e r a t e s " a s s p e c i f i e d by R e g u l a t i o n Z ( T r u t h - i n - L e n d i n g ) . The G.10 r e l e a s e p r e v i o u s l y i n c l u d e d d a t a on b u s i n e s s and farm l o a n s . These s e r i e s have been s u p e r s e d e d by a new s u r v e y of bank l e n d i n g terms c o v e r i n g b u s i n e s s l o a n s monthly and c o n s t r u c t i o n and fa rm l o a n s q u a r t e r l y . The new s u r v e y w i l l be d e s c r i b e d i n a f u t u r e i s s u e of t h e F e d e r a l R e s e r v e B u l l e t i n , and t h e r e a f t e r q u a r t e r l y r e s u l t s w i l l be published in the s t a t i s t i c a l appendix to the B u l l e t i n . In addition, a monthly s t a t i s t i c a l r e l e a s e , " E . 2 , S u r v e y of Terms of Bank L e n d i n g , " w i l l be a v a i l a b l e from P u b l i c a t i o n s S e r v i c e s , M-1153, Board of Governors of t h e F e d e r a l R e s e r v e System, W a s h i n g t o n , D.C. 20551. ( P e r s o n s a l r e a d y on t h e m a i l i n g l i s t f o r r e l e a s e E . 2 , f o r m e r l y e n t i t l e d "Bank R a t e s on S h o r t Term B u s i n e s s L o a n s , " w i l l a u t o m a t i c a l l y b e g i n t o r e c e i v e t h e new monthly r e l e a s e . )
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