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.-2^2%-. FEDERAL RESERVE statistical r e l e a s e • • f*4L R S St 1 For immediate release September 18, .1973 INTEREST RATES CHARGED ON SELECTED'TYPES OF BANK LOANS Type of Loan * Interest rate (per cent %per annum) January July August 1972 1973 W Small short-term,noninstallment -' loans to businesses l! 8.41 , 9./Q3 8.61 . 8.97 8.35 8.69 10.10 i 10.84 10.25 10.95 12.51 . 12.66 .74 12, 17. .11 . 12.75 17.21 12.84 17.22 '7.27 8.00 -7.83 9.00 7.55 : 7,63 Consumer installment credit for: New automobiles (36 months) Mobile homes (84 months) Other consumer goods (24 months) Other personal expenditures • (12 months) Credit card plans Business loans--prime jrate 1/ • ,a n, 5. .25 Farm production loans (one year or less maturity) Feeder cattle operations Other farm productions operating expenses To small businesses To large businesses 7 .31 . 10 .26 10 .94 12, .57 • .Loans of $10,000 to $25,000 maturing in one year or less. Note: Except for the prime rate on loans to large businesses, 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 at 370 insured commercial banks. All rates except the prime rates represent simple unweighted averages of the "most.tiommon." 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 installment loan rates are reported on a Truth-in-Leriding basis as specified in the Federal Reserve Board's Regulation Z. .o t (Over) m I! .) i