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* • f*4L RE-^ •

For immediate release
November 20, 1975

INTEREST RATES CHARGED C$N SELECTED TYPES OF BANK LOAN^-—
Type of Loan

Small short-term noninstalment
loans to businesses —
'Farm production loans (one year or
less maturity)
Feeder cattle operations
Other farm production
operating expenses
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/

Interest rate (per cent per annum)
January
' =
Sept.I
Oct.
1972
1975{
1975

7 . 31

9 .56

9 .65

7,.55

9 .38

v
9 .50

7..63

; 9.43

10..26
10.,94
12.,57
12. 74
17. 11

,

9 .45

ii,.33
, n ..99
. 13.,06 '

11..24
12..05
13.,00

13-,41
17..14

13.,38
17. 11

LoanS of $10,000 to $25,000 maturing in one year or less.

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. In the October survey, 200 banks reported their
rates on small short-term noninstalment loans, to businesses; 51 reported
"their rates on feeder cattle operation loans; 62 reported their rates on
other farm production operating expenses loans; 296 reported their rates
on new automobiles; 65 reported their rates on mobile homes; 238 reported
their rates on other consumer goods; 295 reported their rates- on other
personal expenditures; 186 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.
Consumer instalment loan
rates are reported on a Truth in Lending basis as specified in the Federal
Reserve Board's Regulation Z.
Beginning with the June 1975 Sufvey, the small business prime rate
is no longer reported.