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OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM D I R E C T AUTO LOANS BY COMMERCIAL BANKS NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 27.8 5.7 65.8 0.7 27.0 6.0 66.5 0.5 26.1 6.1 67.1 0.7 26.0 5.9 67.8 0.3 87.9 87.3 87.7 81.6 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 16.1 13.1 34.9 35.8 16.6 13.2 36.2 34.0 16.3 13.3 35.6 34.8 16.7 13.1 37.3 32.9 89.8 89.4 89.9 83.7 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. Details may not add to totals because of rounding. ' L.4.2 -2- t DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 13.6 2.9 81.8 1.7 11.5 2.6 84.8 1.1 12.2 2.7 83.7 1.4 12.5 3.1 83.1 1.3 92.4 92.7 92.8 92.1 10.3 9.9 33.0 46.8 9.8 9.6 32.6 48.0 9.7 9.3 31.4 49.6 98.9 98.8 97.3 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 9.7 9.8 32.3 48.2 . All used car contracts: Median loan/value ratio 97.7 -Unweighted arithmetic mean of the three monthly ratios. Details may not add to totals because of rounding. L.4.2 -3- DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS OCTOBER 1969 AND SEPTEMBER 1969 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ 24 months 25-30 or less months Oct. 1 Sept. Oct. Sept. Maturities 31-36 Over 36 months months Oct. 1 Sept. Oct. 1 Sept. PURCHASED PAPER 80% or less 8170 to '90% 91% to 100% 101% to 110% Over 110% Total Total Oct. 1 Sept. ' 7.9 2.0 2.1 1.1 0.6 7.0 1.6 1.4 0.8 0.8 1.1 0.8 0.7 0.4 0.2 1.1 0.6 0.5 0.2 0.2 17.9 17.1 23.5 13.1 9.6 19.6 16.2 25.0 15.3 8.8 0.3 0.2 1.0 0.3 0.2 0.1 0.1 0.2 0.2 0.3 27.2 20.1 27.3 14.9 10.5 27.8 18.5 27.2 16.5 10.1 13.7 11.4 3.3 2.7 81.1 84.9 1.9 1.0 100.0 100.0 13.7 7.6 4.7 1.4 1.3 15.2 6.4 4.8 1.2 2.1 1.9 1-.6 1.4 0.7 0:3 2.7 20 .y 1.4 14%S 1.6 18.8 0.6 \' 5 . 8 0.3 " > . 7 21.1 14.1 18.0 5.1 4.1 0.1 0.1 0.3 0.1 0.3 0.5 0.2 0.3 0.1 0.1 36.0 24.2 25.2 7.9 5.6 39.4 22.1 24.6 7.0 6.5 29.1 29.7 5.8 6.5 62.7 1.0 1.1 100.0 100.0 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 64.2 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 9.1 3.2 2.7 1.2 0.7 8.7 2.6 2.1 0.9 1.0 1.3 1.0 0.9 0.4 0.2 1.4 0.8 0.7 0.3 0.2 18.4 16.6 22.5 11.6 8.4 19.9 15.8 23.6 13.2 7.9 0.3 0.1 0.9 0.2 0.2 0.2 0.1 0.3 0.2 0.2 29.0 20.9 26.9 13.4 9.5 30.2 19.2 26.6 14.5 9.3 16.9 15.2 3.8 3.5 77.6 80.3 1.7 1.0 100.0 100.0 _l/Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for October and September are derived from reports of 104 banks, 52 of which reported dealer cost ratios as well as maturities. The October maturity distribution for new cars shown on pages 1 and 2 is based on 40,000 contracts, 28,000 purchased and 12,000 direct. The cross-classification on this page is based on 18,000 contracts, 14,000 purchased and 4,000 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. Details may not add to totals because of rounding. L.4.2 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) OCTOBER 1969 AND SEPTEMBER 1969 USED CARS (Percentage distribution of contracts) Contract balance as percentage of . wholesale value 1/2/ Maturities 12 months 13-18 Over 24 19-24 or less months months months Oct. 1 Sept. Oct. 1 Sept. Oct. 1 Sept. Oct. I Sept. Total Oct. | Sept. PURCHASED PAPER 80% or less 817, to 90% 91% to 100% 101% to 110% Over 110% Total 3.5 1.3 1.7 1.1 2.1 4.3 0.9 1.6 1.2 2.1 2.2 1.2 2.2 1.5 2.8 1.9 1.4 1.7 1.4 3.1 6.8 5.9 6.9 5.1 8.1 6.2 5.5 6.8 6.2 10.0 5.5 7.2 10.5 9.7 14.6 5.3 6.7 10.0 8.8 15.1 18.1 15.6 21.2 17.5 27.6 17.7 14.5 20.1 17.5 30.2 9.7 10.1 10.0 9.5 32.9 34.6 47.4 45.7 100.0 100.0 DIRECT LOANS 10.1 2.4 3.5 1.0 1.6 10.4 2.1 2.9 1.1 1.2 5.3 2.5 3.3 1.0 1.9 4.7 1.8 3.3 1.0 2.2 9.9 7.5 13.2 3.8 4.5 13.4 6.5 12.3 4.5 4.7 7.3 5.4 8.4 2.5 4.9 7.6 4.4 8.4 3.4 4.1 32.6 17.8 28.4 8.3 12.8 36.2 14.7 26.9 10.0 12.2 Total 18.8 17.8 13.9 13.0 38.8 41.4 28.5 27.8 100.0 100.0 80% or less 817= to 907= 91% to 1007= 101% to 110% Over 1107= 5.2 1.6 2.2 1.1 2.0 5.9 1.2 1.9 1.1 1.9 3.0 1.6 2.4 1.4 2.6 2.6 1.5 2.1 1.3 2.9 7.6 6.3 8.5 4.8 7.2 8.1 5.7 8.2 5.7 8.6 6.0 6.7 9.9 7.9 12.1 5.9 6.1 9.6 7.4 12.2 21.8 16.2 23.1 15.1 23.8 22.5 14.5 21.9 15.5 25.5 12.0 12.1 11.0 10.4 34.4 36.4 42.6 41.1 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 1107= 0/er 110% TOTAL Total V C o n t r a c t 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 October and September are derived from reports of 104 banks, 49 of which reported dealer cost ratios as well as maturities. The October maturity distribution for used cars shown on pages 1 and 2 is based on 27,000 contracts, 18,000 purchased and 9,000 direct. The cross-classification on this page is based on 12,000 contracts, 9,000 purchased and 3,000 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. Details may not add to totals because of rounding.
@FedFRASER