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ni Not f o r p u b l i c a t i o n BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM . MCOmOLLED AJTER SIX MOUTHS. December 11, 1959 MATURITIES ON AUTOIUECLE INSTALMENT LOANS OCTOBER 1 9 # AND SEPTEMBER 1959 (Percentage d i s t r i b u t i o n of c o n t r a c t s ) Maturities Total Oct. Sept. Purchased Paper Sept. Oct. New c a r s 2k months or l e s s 25-30 months 31-36 months Over 36 months Total 27.3 10.2 62.1 0.1* 100.0 21*. 1* 10.2 65.0 o.U 100.0 21.1 8.2 70.3 O.U 100.0 Used cars l / 12 months o r l e s s 13-18 months 19-2k months Over 2h months Total 15.8 16.0 1*2.3 25.9 100.0 15.6 16.6 . 12.8 25.0 looTo" 11.9 13.5 1*3.3 31.3 100.0 " Oct. D i rect Loans Sept. 1*1.3 15.7 1*3.0 18.7 8.3 72.6 0.1* 100.0 Wu3 15.6 1*0.0 0.1 OTTo . ioo.O 11.5 lii.O U».2 30.3 100.0 26.3 22.8 39.8 11.1 100.0 27.1* 23,9 39:8 9.9 100.0 * l / F i g u r e s are predominately f o r l a t e model used cars but include data from a few""banks f o r a l l used c a r s . NOTE: D i s t r i b u t i o n s are based on t a b u l a t i o n s of data from 137 banks f o r September and October and are not intended to be estimates f o r a l l commercial banks. I n October r e p o r t s covered about 35,000 c o n t r a c t s on new c a r s , 26,000 purchased and 9,000 d i r e c t , and 18,000 c o n t r a c t s on used c a r s , 13,000 purchased and 5,000 d i r e c t . Since composition of the group of banks changes from month to month, data are not comparable with previous r e l e a s e s . For d i s t r i b u t i o n according to m a t u r i t i e s and c o n t r a c t balance as a p e r c e n t age of d e a l e r c o s t , see following pages. Not f o r p u b l i c a t i o n — 2 — .1.2 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS OCTOBER 1 9 # AND SEPTEMBER 1959 NEW CARS ( P e r c e n t a g e d i s t r i b u t i o n of c o n t r a c t s ) Contract balance as p e r c e n t a g e of dealer cost 1/ Maturities Over 36 24 months 25-30 I 31-36 Total ! months i months less months Oct. 1 Sect. Oct. I Sept. : o c t . |Sept.• | 0 c t . J Sept. Oct. jSepto PURCHASED PAPER 80# o r l e s s 81% t o 90% 91% t o 100% 101% to 110% Over 110% Total 13-9 3.8 3.1 0.8 ; 0.2 11.7 3.2 2.6 0.6 Q.5 2.9 1.7 2.2 0.9 0.3 3 . 2 « 15.9 2 . 1 16.0 1.8' • 23.0 1.2 10.5 It. 7 0.3 15.7 16.5 26.3 9;8 •lull 0.1 21.8 18.6 8.0 8.6 72.7 0.1 70.1 * * -Jl2 30.6 21.9 30.7 11.6 5.2 0.1 100.0 100.0 0.1 51.7 20.7 18.8 6.0 2.8 53.0 19. h 20.6 5. it 1.6 0.1 100.0 100.0 37.0 21.3 26.2 10.8 lu7 35.li 21. h 28.5 10.3 k.k 100.0 100.0 # 0.1 .32.7 21.5 28.L 12.2 DIRECT IOANS 80% o r l e s s 81% to 90% 91% to 100% 101% t o 110% Over 110% Total 29.9 8.9 5.3 1.5 0.8 . 28.7 5.3 6.7 1.3 0.5 7.3 3.6 L 3 0.8 0.6 8.8 5.0 3.3 0.6 o.U Ik 5 8.2 9.2 3.5 l.U 15. h 9.1 10.6 3.5 J2LZ 1x6. U U2.5 16.6 18.1 36.8 39.3 0.2 0.2 TOTAL 80% o r l e s s 81% t o 90% 91% to 100% 101% to 110% Over 110% Total 17.5 5.0 3.7 0.9 0.3 l5.lt 3.6 3.5 0.8 0.5 3.9 2.1 2.7 0.9 O.U h»h 2.7 2.1 1.1 0.3 15.6 lli.2 19.8 8.9 U.o 15.6 15.0 22.9 8. a 3.6 27.1 23.8 10.0 10.6 62.5 65.5 * * 0.1 * 0.1 0.1 0.1 -x- Less t h a n o n e - t e n t h of one p e r c e n t . NCTEt D i s t r i b u t i o n s a r e based on t a b u l a t i o n s of d a t a from 81 banks f o r September and O c t o b e r and a r e n o t i n t e n d e d t o be e s t i m a t e s f o r a l l commercial b a n k s . I n O c t o b e r r e p o r t s covered about 17,000 c o n t r a c t s on new c a r s , 13,000 p u r c h a s e d and 1;,000 d i r e c t . S i n c e c o m p o s i t i o n of t h e group of banks changes from month t o month, d a t a a r e n o t comparable w i t h p r e v i o u s r e l e a s e s . ^Mifot f o r p u b l i c a t i o n L.l*.2 - 3 DEALER COST RATIOS 'AND MATURE HES ON AUTOMDHTLE INSTALMENT LOANS (continued) OCTOBER 1959 AND SEPTEMBER 1959 USED CARS (Percentage d i s t r i b u t i o n of c o n t r a c t s ) Contract balance as percentage of wholesale value 1 / 2/ 12 months or less O c t . |Sept» Maturities Over 21* 13-10 % 19-24 months months months O c t . I S e p t . O c t . iSept. O c t . i S e p t . O c t . j Sept. PURCHASED PAPER 80% o r l e s s 81% to 90% 91% to 100% 101% to 110% Over 110% Total 1*.3 2.8 1.9 1.7 1.5 h.2 1.9 1.8 2.0 1.5 3.0 2.1* 2.8 1.7 2.6 12.2 11. a 12.5 12.8 22.1 2.8 2.1 0.9 0.8 21.8 3.6 3.b 1.3 0.8 13.0 li.O 3.0 1.6 0.8 12.6 3.8 3.1 28.7 30.9 22.1 23.0 3.2 7.9 2.2 8.5 2.6 ,11.1 2.0 7.8 2.8 Jhl 1*3.2 19.3 ; 1 8 . 1 19.7 17.0 26.1 26.0 17.2 17.8 17.7 2 1 . 1 7.8 7.6 11. L 7.7 10.5 U.l 6.0 10.3 6.0 5.7 2.9 5.3 10.2 6.1 6.3 15.0 32.1 3 0 . 8 : 100.0 100.0 DIRECT LOANS 80% o r l e s s 81% to 90% 91% to 100% 101% to 110% Over 110% Total 2.1* 1.1 1 6 . 5 17.2 7 . 1 i 8.2 8.2 6.3 2.7 3.8 2.5 3.7 38.2 38.0 2.5 2.1 2.1 1.5 ; 2.1 2.5 2.2 0.9 2.5 0.1* 10.7 8.1 51*. 1 16.0 15. h 6.7 7.8 53.7 18.1 15.0 8.U If. 8 100.0 100.0 TOTAL 80% o r l e s s 81% to 90% 91% to 100% 101% to 110% Over 11'0% 9.6 2.7 2.0 l.h 1,3 Total 1 y 17.0 9.2 2.1* 2.2 1.8 1.3 16.9 6.0 2.9 2.9 1.7 2.0 1 5 . 5 2.9 2.6 2.8 2,1 _&3 10. a 8.1 10.2 6.3 6.7 10. 1* 7.8 10.0 6.6 8.2 3.6 I*. 9 7.8 1*.7 It. 8 7.9 It. 6 It. 7 15.7 ia. 7 13.0 25.8 21*. L 2.7 1 . 5 29.6 18,6 22.9 11*. 1 11*. 8 28.2 17.3: 22.9 15.1 16.5 100.0 IOO.O Vn 0"I 2 / Wholesale vqlue r e p r e s e n t s "average w h o l e s a l e , " "as i s , " " o r buying value" as i n d i c a t e d by used c a r g u i d e s . NDTF: D i s t r i b u t i o n s a r e based on t a b u l a t i o n s of d a t a from 61* banks f o r September and October and a r e not i n t e n d e d to be e s t i m a t e s f o r a l l commercial banks. I n October r e p o r t s covered about 10,000 c o n t r a c t s on used c a r s , 7>000 purchased and 3,000 d i r e c t . Since composition of the group of banks changes from month to month, d a t a a r e n o t comparable with p r e v i o u s r e l e a s e s .
@FedFRASER