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FEDERAL RESER VE BANK O F NEW YORK f Circular N o. 3 5 8 8 1 I September 14, 1950 J RE G U LA TIO N W CONSUMER IN STA LM E N T C R E D IT C O N TR O L Designation o f A u tom obile A ppraisal Guides To Lenders, Automobile Dealers, and Certain Others in the Second Federal Reserve District Concerned with Regulation TV: Following is the text o f a statement issued by the Board o f Governors o f the Federal Reserve System and released for publication on September 9, 1950. Under Regulation W as recently issued effective September 18, 1950, the credit value o f any automobile is based on the lower o f either (1 ) the cash price or (2 ) the average retail value stated in one o f the appraisal guides designated by the Board o f Governors o f the Federal Reserve System. F or the purposes o f this rule, the Board has designated certain editions and issues o f the appraisal guides shown on the list attached. Detailed inform ation as to the designations may be obtained from any Federal Reserve Bank or Branch. A dealer is not required to use any particular automobile appraisal guide but, fo r purposes o f com plying with Regulation W , may use quotations from any o f the appraisal guides that are designated for use in his territory. The automobile models fo r which designations will initially apply are limited to used cars o f model years 1941 to 1950, inclusive. In the case o f these cars, the maximum credit value on and after September 18, 1950, w ill be the specified percentage (now 66-2/3 per cent) o f whichever is the lower o f (1 ) the cash purchase price or (2 ) the “ appraisal guide valu e” (as determined from any desig nated gu id e). F o r those automobiles which do not have an “ appraisal guide value” (new automobiles, used 1951 models, and used cars o f 1940 and older models) the maximum credit value will be the specified percentage o f the cash purchase price. The “ appraisal guide value” to be used for the purposes o f Regulation W does not include any added value for cars equipped with a radio or heater, but it may include the added value specified in the appraisal guide for cars having an overdrive or automatic transmission as extra equipment. The list referred to in the statement is printed on the reverse side. To determine the retail value of an automobile on any given date for the purposes o f Regulation W , only the issue of a guide currently designated should be used. Additional copies o f this circular will be furnished upon request. A llan S proul, President. (o v e r ) BO ARD OF GOVERNORS OF TH E F E D E R A L R E S E R V E SY STE M Automobile Appraisal Guides Designated fo r Purposes of Regulation W (Designations limited to quotations for used cars o f model years 1941-50) Guide, name and address o f 'publisher, and territory for which guide is designated Issues designated AM ERICAN AUTO A PPR A ISA L American Auto Appraisal, 194 Grove Avenue, Detroit 3, Michigan Region A (see Note 1) September-October, 1950 November-December, 1950 January-February, 1951 March-April, 1951 May-June, 1951 BLUE BOOK — E X EC U TIVE S EDITION National Used Car Market Report, Inc., 900 South Wabash Avenue, Chicago 5, Illinois Regions A , B, and C (see Note 1) August 15-September 30, 1950 October 1-November 14, 1950 November 15-December 31, 1950 January 1-February 14, 1951 February 15-March 31, 1951 April 1-May 14, 1951 May 15-June 30, 1951 K E L L E Y BLUE BOOK GUIDE Les Kelley, 1221 South Figueroa Street, Los Angeles 15, Calif. Region C (see Note 1) September-October, 1950 November-December, 1950 January-February, 1951 March-April, 1951 May-June, 1951 M ARK ET ANALYSTS REPORT Used Car Statistical Bureau, Inc., 93 Massachusetts Avenue, Boston 15, Mass. The six New England States, New Jersey, New York and Pennsylvania September-October, 1950 November-December, 1950 January-February, 1951 March-April, 1951 May-June, 1951 N. A. D. A. O FFICIA L USED CAR GUIDE National Automobile Dealers Used Car Guide Co., 1026 — 17th Street, N. W., Washington 6, D. C. 5 Regions (see Note 2) September, 1950 October, 1950 November, 1950 December, 1950 January, 1951 February, 1951 March, 1951 April, 1951 May, 1951 June, 1951 NORTHW EST USED CAR VALUES Northwest Publishing Company, 90 University Street, Seattle 1, Wash. Washington, Oregon, Idaho, and Montana September, 1950 October, 1950 November, 1950 December, 1950 January, 1951 February, 1951 March, 1951 April, 1951 May, 1951 June, 1951 O FFIC IA L AUTOM OBILE GUIDE, PRICE ED ITION Recording and Statistical Corporation, 222 West Adams Street, Chicago 5, Illinois Regions A, B, and C (see Note 1) September-October, 1950 November-December, 1950 January-March, 1951 April-June, 1951 O FFICIA L AUTOM OBILE GUIDE, PRICE ED ITION The National Research Bureau, Inc., 415 Dearborn Street, Chicago 10, Illinois Regions A, B, and C (see Note 1) September-October, 1950 November-December, 1950 January-March, 1951 April-June, 1951 O FFICIA L USED CAR SURVEY Motor Vehicle Dealers Administration, Nebraska, State House, Lincoln, Nebraska Nebraska September-October, 1950 November-December, 1950 January-March, 1951 April-June, 1951 O FFICIA L W ISCONSIN AUTOM OBILE V A LU ATIO N GUIDE Wisconsin Automotive Trades Association, 119 Monona Avenue, Madison 3, Wisconsin Wisconsin August 15-September 30, 1950 October 1-November 14, 1950 November 15-December 31, 1950 January 1-February 14, 1951 February 15-March 31, 1951 April 1-May 14, 1951 May 15-June 30, 1951 RED BOOK N A TIO N A L USED CAR M ARK ET REPORT National Used Car Market Report, Inc., 900 South Wabash Avenue, Chicago 5, Illinois Regions A, B, and C (see Note 1) August 15-September 30, 1950 October 1-November 14, 1950 November 15-December 31, 1950 January 1-February 14, 1951 February 15-March 31, 1951 April 1-May 14, 1951 May 15-June 30, 1951 N o t e 1. Begion A : Alabama, Connecticut, Delaware, District o f Columbia, Florida, Georgia, Illinois (except Madison, St. Clair and Rock Island Counties), Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia and Wisconsin (except Douglas County). Begion B : Arkansas, Colorado, Illinois (Madison, St. Clair and Rock Island Counties), Iowa, Kansas, Louisiana, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota Oklahoma, South Dakota, Texas, Wisconsin (Douglas County) and Wyoming. Begion C : Arizona, California, Idaho, Nevada] Oregon, Utah and Washington. N ote 2. The regions for which each o f the five territorial editions o f N. A. D. A. Official Used Car Guide is designated are: Begion “ A ” : Connecticut, Delaware, District o f Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Tennessee (Sullivan County only), Vermont and Virginia. Begion “ B ” : Arkansas (Miller County only), Colorado, Louisiana, Montana, New Mexico, North Dakota, Oklahoma, South Dakota, Texas and Wyoming. Begion “ C ” : Arizona, California, Idaho, Nevada, Oregon, Utah and Washington. Begion “ D ” : Alabama, Arkansas (except Miller County), Florida, Georgia, Illinois (Madison, Rock Island, St. Clair Counties only), Iowa, Kansas, Minnesota, Mississippi, Missouri, Nebraska, North Carolina, Tennessee (except Sullivan County), South Carolina and Wisconsin (Douglas County only). Begion “ E Illinois (except Madison, Rock Island, St. Clair Counties), Indiana, Kentucky, Michigan, Ohio, West Virginia and Wisconsin (except Douglas County).
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