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F E D E R A L R E S E R V E statistical r e I exa s e '-fXALVSSt For immediate release January "17, 1977 INTEREST RATlS CHARGED ON SELECTED TYPES *OF BANK LOANS Interest. Rate (per cent per annum) Small short-term noninstailment loans to businesses \J November 1975 October 1976 November 1976 9.49 8.97 9.21 9.36 8.79 9.06 9.45 9.01 9.29 11.24 11.76 12.96 13.40 11.04 11.63 13.03 13.26 11.02 11.77 13.06 13.40 17.06 17.05 17.04 Farm production loans (one year or less maturity) Feeder cattle operations Other farm production operating expense • ; - Consumer installment credit for: * New automobiles (36 months) Mobile homes (84 months) Other consumer goods (24 months) Other personal expenditures (12 months) Credit card plans •\J Loans of $10,000 to $25,000 maturing in one year or less. NOTE: The interest rates shown in this release are based on a survey conducted-by the Federal Reserve System. In the November survey 227 banks reported their rates on small short-term noninstaliment loans to businesses; 39 reported their rates on feeder cattle operation loarfs] 58 reported their rates on other farm production operating expense loans; 235 reported their rates on new automobiles; 68 reported their rates on^ mobile home's; 192 reported their rates on other consumer goods; 229 reported their rates on other personal expenditures; 150 reported their rates on credit card plans. All rates represent simple unweighted averages of the "most common" -effective annual rate on loans made during the first full calendar week of the month in each loan category. The "most common" rate is defined as the rate charged on the largest dollar volume of loans in the particular category during the week covered in the survey r Consumer installment loan rates are reported on a Truth in Lending basis as specified in the Federal Reserve Board's Regulation Z. The sample for November contained 254 member banks.
@FedFRASER