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. • 0* COW ' FEDERAL s t oil s t RES i ca I RV E s e re a I e For immediate release ; June 19, 1972 INTEREST RATES CHARGED ON SELECTED TYPES OF?BANK LOANS Type of Loan Interest rate (per cent per annum) January April May 1972 1972 1972 Small short-term r.oninstalment loans to businesses ' \J 7.31 7.21 7.28 Farm production loans (one year or less, maturity) Feeder cattle operations Other farm production operating expenses .7.55 7.44 7.35 7.63 7.57 7.58 10. 26 10.94 12.57 10.00 10.45 42. 37 9.96 10.73 12.44 - 12.74 17.11 12.58 17.22 12^63 , 17.24-' Consumer instalment credit for: New automobiles (36 months) Mobile homes (84 months) — Other consumer goods (24 months) Other personal expenditures (12 months) • Credit card plans Note: The interest rates shown on this release are based on a survey conducted jointly by the Federal Reserve System and the Federal Deposit Insurance Corporation of loans made during the first full calendar week I of each month by a sample of 370 insured commercial banks. They represent simple unweighted averages of the "most common" effective annual 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 category 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/ Loans of $10,000 to $25,000 paturing i| one year or less. 2/ Includes revision of data for one respondent to correct a ~ ' reporting error. Revision not carried back, and May data therefore «not fully comparable with earlier months. . \
@FedFRASER