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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM August 21, 1967 DECONTROLLED AFTER SIX MONTHS DIRECT AUTO LOANS BY COMMERCIAL BANKS Three months ending June* 1966 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 25.3 6.1 67.1 1.5 27.1 5.9 65.5 1.5 27.2 6.0 65.5 1.3 27.8 6.3 65.7 0.2 Contracts written for 36 months: Median loan/value ratio USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 18.1 12.4 37.3 32.2 19.3 12.3 37.6 30.8 19.0 12.5 37.0 31.5 18.2 12.7 37.0 32.1 89.3 88.0 88.3 87.8 All used car contracts: Median loan/value ratio ^Unweighted arithmetic mean of the three monthly ratios. L.4 .2 DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) Three months ending June* 1967 | 1966 1967 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 13.4 3.3 81.9 1-4 14.4 3.8 80.7 1.1 14.1 3.6 81.1 1.2 14.6 4.4 80.0 1.0 93.0 92.9 92.9 93.6 Contracts written for 36 months: Median loan/value ratio USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 9.4 9.1 31.7 49.8 8.9 9.1 30.7 51.3 9.1 9.2 31.1 50.6 9.0 8.9 30.4 51.7 99.3 99.8 99.4 100.0 All used car contracts: Median loan/value ratio ^Unweighted arithmetic mean of the three monthly ratios. L.4.2 •3DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS JUNE 1967 AND MIY 1967 NEW CARS (Percentage distribution of contracts) * Contract balance as percentage of dealer cost 1/ 24 months or less June 1 May 25-30 months June 1 May Maturities 31-36 months June I May Over 36 months June| May Total 1 May PURCHASED : PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Tptal 8.3 1.6 1.9 0.9 8.6 1.7 2.0 0.9 13.2 J3.8 1.3 1.5 0.5 0.6 0.8 1.2 0.3 0.3 0^2 M JLI 3.2 83.0 3.9 17.7 15 .4 28.0 13.7 JL1 0.1 0.1 0.2 0.1 OA 81.8 0.6 17.7 15.2 27.8 13.2 0.1 0.1 0.2 0.1 27.4 17.7 31.0 15.0 8.9 28.0 17.5 31.3 14.4 8.8 0.5 100.0 100.0 0.1 45.3 17.3 24.6 7.2 5.6 49.3 15.5 22.7 7.6 4.9 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 15.0 3.6 4.4 1.3 0.8 17.0 4.5 4.8 1.0 0.6 2.7 0.9 2.0 0.4 0.2 3.3 1.1 1.8 0.5 0.2 27.5 12.6 18.1 5.3 4.5 28.9 9.8 16.2 6.0 4.0 0.1 0.1 25.2 27.7 6.3 7.0 68.1 65.0 0.4 0.3 100.0 100.0 0.1 0.1 0.1 0.1 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 9.9 2.1 2.5 1.0 0.6 10.7 2.4 2.7 0.9 0.6 1.6 0.6 1.1 0.4 0.2 2.0 0.7 1.3 0.4 0.2 20 .0 14.7 25.7 11.7 7.3 20.5 13.9 24.9 11.4 7.0 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.2 * * 31.7 17.6 29.5 13.1 8,1 33.2 17.0 29.2 12.8 7.8 16.1 17.3 3.9 4.6 79.4 77.7 0.6 0.4 100.0 100.0 J L / Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for June and May are derived from reports of 110 banks, 69 of which reported dealer cost ratios as well as maturities. The June maturitydistribution for new cars shown on pages 1 and 2 is based on 45,000 contracts. 31,000 purchased and 14,000 direct. The cross-classification on this page is based on 24,000 contracts, 18,000 purchased and 6,000 direct. The data are not intended to be estimates for all commercial banks and are not comparable with previous releases since composition of the group of banks changes from month to month. I Details may not add to totals because of rounding. L.4.2 -4DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) JUNE 1967 AND MA.Y 1967 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1 J 2 / 12 months less June 1 May 13 -18 months June 1 May Maturities 19 -24 months June 1 May Over 24 months June 1 May Total June 1 May PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 3.3 1.0 1.7 1.1 2.4 3.1 1.1 1.4 1.2 1.9 2.0 1.4 1.7 1.2 2.4 2.2 1.1 1.7 1.0 2.6 4.6 4.3 7.7 4.0 9.3 5.3 6.7 11.3 8.7 18.3 5.9 7.2 11.2 9.2 19.3 15.2 13.6 22.9 15.4 32.9 15.8 13.8 21.9 15.4 33.1 9.4 8.6 8.6 8.6 31*. 6 29.9 50.4 52.9 100.0 100.0 10.2 10.0 2.1 1.8 3 .8 3.9 0.8 0.9 1.8 2.0 5.2 2.0 3.4 0.9 2.0 6.0 12.3 1.7 6.1 3.7 10.4 0.9 3.4 1.8 5.3 13.8 4.8 10.8 3.3 5.1 10.1 2.8 7.6 3.7 5.9 11.2 2.8 6.3 3.1 6.1 37.8 13.1 25.2 8.8 -ILL! 41.0 11.2 24.7 8.1 15.0 18.8 18.6 13.6 14.2 37.5 37.8 30.1 29.4 100.0 100.0 6.7 5.0 8.9 4.1 8.6 7.2 4.5 8.5 3.8 6.6 5.6 10.2 7.3 14.8 7.4 6.0 9.8 7.5 15.6 21.5 13.5 23.6 13.5 27.9 22.8 13.1 22.7 13.3 28.1 10.2 33.3 32.1 44.6 46.3 100.0 100.0 4.5 4.5 8.3 4.4 9.9 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 5 .3 1.3 2.3 1.0 2.2 5.0 1.3 2.1 1.1 2.0 2.9 1.6 2.1 1.1 2.3 12.1 11.4 10.0 3.3 1.3 2.3 1.0 2.4 1/ Contract balance excludes finance and insurance charges. 2/ Wholesale value represents "average wholesale," "as is," or "buying value" as indicated by used car guides. NOTE: Distributions for June and May are derived from reports of 110 banks, 65 of which reported dealer cost ratios as well as maturities. The June maturity distribution for used cars shown on pages 1 and 2 is based on 32,000 contracts, 22,000 purchased and 10,000 direct. The cross-classification on this page is based on 17,000 contracts, 12,000 purchased and 5,000 direct. The data are not intended to be estimates for all commercial banks and are not comparable with previous releases since composition of the group of banks changes from month to month. Digitized Details for FRASER may not add to totals because of rounding.
@FedFRASER