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For immediate r e l e a s e
O c t o b e r 1 3 , 1972

G. 10

INTEREST RATES CHARGED ON SELECTED TYPES OF BANK LOANS
Type of Loan

Small s h o r t - t e r m n o n i n s t a l m e n t
l o a n s t o b u s i n e s s e s 1/
Farm p r o d u c t i o n l o a n s ( o n e
year or l e s s m a t u r i t y )
Feeder c a t t l e operations
Other farm production
o p e r a t i n g expenses
Consumer i n s t a 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 ( 3 6 m o n t h s )
M o b i l e homes (84 m o n t h s )
Other consumer goods
(24 m o n t h s )
Other p e r s o n a l (expenditures
(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 d e n t p e r annum)
January
August
September
1972
1972
1972

7,. 3 1

: 7.32

7 .44

7.. 5 5

7.<54

7,. 5 5

7.. 6 3

' 7.. 58

7,. 7 5

10. ,02
" 10., 7 1

10..02
10, ,67

10.26
10. ,94

"

12. ,47

12. 57
12 ..74
17. 11

•

12.'.72
17. 25

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.

12.,47
12. ,70
17. ..25

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 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 th'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 week
of e a c h m o n t h 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 " m o s t common 1 ' 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 .
The ' > o s t c o m m o n " r r i 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
. 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 a s 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/

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 o r l e s s .




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