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F E D E R A L R E S E R V E statistical release ' For immediate r e l e a s e November 2 9 , 1973 . "INTEREST RATES CHARGED ON SELECTED TYPES OF BANK LOANS I n t e r e s t r a t e ( p e r c e n t p e r annum) January September October 1972: 1973 3 1973 Type of Loan ! Small s h o r t - t e r m n o n i n s t a l l m e n t loans to businesses \f 7 .55 : 7 .63; Consumer i n s t a l l m e n t c r e d i t f o r : New a u t o m o b i l e s (36 m o n t h s ) M o b i l e homes (84 m o n t h s ) O t h e r , consumer goods (24 m o n t h s ) Other p e r s o n a l e x p e n d i t u r e s (12 m o n t h s ) Credit card plans Business loans--prime r a t e 1/ 6 9.76 > Farm p r o d u c t i o n l o a n s (one y e a r or l e s s m a t u r i t y ) Feeder c a t t l e operations Other farm p r o d u c t i o n s o p e r a t i n g .expenses To s m a l l b u s i n e s s e s To l a r g e b u s i n e s s e s 9.40 7 .31 : / f 9.43 -9.71 V 9.17 9.09 10.44 11 .-06 10.53 10.90 3 10 .26 10 .94 12,.57 12 ..67 12. 80 . 12,.74 17..11 12.96 17.23 13.04 17.23. 8.17 9.75 8,31 10.00 ,a 5. .25 ; Loans 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 l e s s . N o t e : E x c e p t f o r t h e p r i m e r a t e on l o a n s t o l a r g e b u s i n e s s e s , t h e 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 e 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 by 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 a t 370 i n s u r e d commercial b a n k s . A l l r a t e s e x c e p t t h e prime r a t e s 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 common" e f f e c t i v e a n n u a l r a t e on 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 week of t h e month i n e a c h l o a n c a t e g o r y . The "most 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 volume of l o a n s i n t h e p a r t i c u l a r c a t e 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 survey. Consumer i n s t a l 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 in the F e d e r a l Reserve B o a r d ' s R e g u l a t i o n Z. (Over) The prime r a t e o n . l o a n s t o . s m a l l b u s i n e s s e s , as p r o v i d e d f o r I n *11111: are not d i r e c t l y comparable t o t h e o t h e r r a t e s shown on t h i s , r e l e a s e .
@FedFRASER