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•ASS*, FEDERAL RESERVE statistical relea s e 'REVISED COPY J For immediate.release January 12, 1973 G. 10 INTEREST RATES CHARGED 1 ON SELECTED TYPES OF BANK LOANS Type of Loan i Interest rate (per cent per. annum) January November December -1972 1972 1972 ; ' Small short-term noninstalment loans to businesses _!/ Farm production loans (one year or less maturity) Feeder cattle operations Other farm production . operating expenses ' .. 7. 31 7.,55 ; Consumer instalment credit fori: ' New ^automobiles (36 months) Mobile homes (84 months) Other consumer goods (24 months) Other personal expenditures (12 months) • ;; Credit card plans J ' : , 7. 63 # .52 . ' .54 "l •7 .67 \ % .66 7 .82 .95 , 10. 26 ,94 10. 10 .02 1C .85 ,57 j. " 12. 12 .63 17 .2 3, I 12 .4% 12 .74 17. 11 7 • - $ "10 .01 10 .69 12 .55 1 12 .77 17 -24 r " NoteThe interest rates shown on this release are based on a survey conducted jointly bv the Federal Reserve .System and the Federal Deposit Insurance Corporation of loans made during.the first: full calendar week of each month" by a sample of 370 insured commercial banks. They represent simple- unweighted averages of the "most tiommon" effective, annua 1 .rate reported by respondents in each loan category., The "most common" rate is - • defined-as the rate charged on the largest dollar,volume of loans<in the particular cateogory during the week covered .in the survey. Consumer instalment loan rates are reported on/a' Truth-in-Lending basis as specified in the Federal| Reserve Board's Regulation Z. .1/ x Loans of.$10,000 to $25,000 maturing in one year or less. r - Revised
