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FEDERAL s t a t i s t RESERVE i c a I r e l e a s e For immedi;ate r e l e a s e November 1 0 , 1 9 7 2 , C.IQ INTEREST RATES CHARGED ON SELECTED TYPES OF BANK LOANS Type of Loan | 'Small| s h o r t - t e b m n o n i n s t a l m e n t -loahs to b u s i n e s s e s I f Farm p r o d u c t i o n l o a n s ( o n e ( y e a t o r l e s s m a t u r i t y ) i [' j Feeder C a t t l e operations j > Other farm p r o d u c t i o n j :operating expenses f. Consumer i n s t a l m e n t c r e d i t f o r : Mew a u t o m o b i l e s , ( 3 6 m o n t h s ) M o b i l e homes ( 8 4 m o n t h s ) Other consumer goods (24 m o n t h s ) Other personal e x p e n d i t u r e s (12 m o n t h s ) Credit card plans I n t e r e s t r a t e ( p e r c e n t p e r anbum) January September October 1972 1972 , 1972 j : 7.. 3 1 7, , 4 4 7 ., 4 4 ' 7.• 5 5 ; 7, , 5 5 7. , 5 6 7. 63 7., 7 5 1 \ ,72 1 0 . 26 1 0 . 94 10, , 0 2 10. , 6 7 1 0 .. 0 1 1 0 . , 66 152. 5 7 1 2 ., 4 7 1 2 ., 3 8 , 1 2 -,70 17. . 2 5 ' 1 2 ., 7 0 1 7 ., 2 3 1%,.74 17. 11 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 6 b a s e d on a s u r v e y c o n d u c t e d j o i n t l y b y t h e F e d e r a l R e s e r v e S y s t e m 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 l o a n s 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 w e e k of e a c h month by a s a m p l e of 370 i n s u r e d c o m m e r c i a l b a n k s . They r e p r e s e n t - s i m p l e u n w e i g h t e d a v e r a g e s of t h e "most" 1 common", e f f e c t i v e a n n u a l r a t e . r e p o r t e d by r e s p o n d e n t s , i n e a c h l o a n c a t e g o r y . T h e "rnos f t common" r a t e i s d e f i n e d a s t h e r a t e c h a r g e d on t h e l a r g e s t d o l l a r v o l u m e of l o a n s i n t h e u 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 t h e week c o v e r e d i n t h e s u r v e y . Consumer *• i n s t a l m e n t l o a n 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 i n ; t h e ' F e d e r a l R e s e r v e B o a r d ' s R e g u l a t i o n Z. 1/ L o a n s of $ 1 0 , 0 0 0 t o $ 2 5 , 0 0 0 m a t u r i n g i n one y e a r or less.