Full text of E.12 Finance Rates on Selected Consumer Installment Loans at Reporting Commercial Banks : December 8, 1972

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

F E D E R A L
imm

R E S E R V E

statistical

release

For immediate r e l e a s e
- December 8, 1972

G. 10

INTEREST RATES CHARGED ON SELECTED TYPES OF BANK LOANS.
Type of Loan

Small s h o r t - t e r m n o n i n s t a l m e n t
loans t o b u s i n e s s e s If
Farm p r o d u c t i o n loans (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
j
I
Consumer i n s t a l m e n t crfedit f o r :
New a u t o m o b i l e s (36 months)
Mobile homes (84 months)
Other consumer goods
(24 months)
Other p e r s o n a l e x p e n d i t u r e s
(12 months)
C r e d i t card p l a n s

I n t e r e s t r a t e (per c e n t per annum)
January
October
Noyember
1972
1972
1972
7.31

7.44

7.52

7.55.

7.56

7.67

7.63

7.72

7.82

10. 2 6>
10.94

10.01
10.66

10.02
10.85 '

12. i 7

IZ.38

12.44

12.74
17.11

12i 70
.17.23

12.63
17.23

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 survey
conducted j o i n t l y by t h e F e d e r a l Reserve 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 loans 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 sample of 370' i n s u r e d commercial banks. They r e p r e s e n t
siihple unweighted a v e r a g e s of t h e "most common" e f f e c t i v e annual r a t e Rep o r t e d by r e s p o n d e n t s in each loan c a t e g o r y . The "most common11 r a t e i s
d e f i n e d as t h e r a t e charged on t h e l a r g e s t d o l l a r volume of M o a n s / i n the
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 the week covered i n ? t h e s u r v e y . Consumer;
i n s t a l m e n t loan 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
in t h e F e d e r a l Reserve Board!s R e g u l a t i o n Z. ^
1 / ' Loans of $10,000 t o $25,000 m a t u r i n g in one y e a r or l e s s .