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FEDERAL RESERVE statist! c a I release For Immediate release June 23, 1976 INTEREST RATES CHARGED ON SELECTED TYPES OF BANKS LOANS Interest rate (pet cent per annum) May April May 1975 1976 < 1976 Small short-tdrm noninstalment loans to businesses 1/ 9.56 Farm production loans (one year or less maturity) • Feeder cattle operations Other farm production operating 11.39 11.57 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 1/ 8.98 8.83 9.35 8.97 8.83 9.44 9.08 9.04 11.08 11.66 11.01 11.61 13.11 12.95 12.96 13.41 17.21 13.16 17.04 13.26 17.02 Loans of $10,000 to $25,000 maturing in one year or less. NOTE: The interest rates shown on this release a're based on a survey conducted by the Federal Reserve System. In the April' survey, 250 banks reported their rates on small short-term noninstalment loans to businesses; 47 reported their rates on feeder cattle operation loans; 62 reported their rates on other farm .production operating expenses loans; 242 reported their rates on new automobiles; 58 reported their rates on mobile homes; 199 reported their rates on other consumer goods; 246 reported their rates on other personal expenditures; 160t*reported, their rates on credit card plans. All rates represent simple unweighted.averages of the "most common" effective annual rate on loans made during che first- full calendar week of t*he 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^ Consumer instalment loan rates are reported on a Truth in Lending basis as specified in the Federal Reserve Board's Regulation Z. The sample for April contained 264 member banks.
@FedFRASER