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I] BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM — % U0^ ' " ' - "''" •---_, December 11, 1970 S DIRECT AUTO LOANS BY COMMERCIAL BANKS October 1970 September 1970 Three months ending October* I 1969. NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 27.2 6.6 65.9 0.3 25.1 6.3 68.3 , 0.4 25.7 6.3 67.7 0.3 26.1 6.1 67.1 0.7 Contracts written for 36 months: Median loan/value ratio 87.7 USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 18.1 14.6 35.6 31:6 17.7 14.0 36.7 31.6 18.0 14.3 35.7 31.9... 16.3. 13.3 35.6 34.8 89.6 89.5 89.8 89.9 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 -2DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) Three months ending October* 1969 October 1970 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 9 13.3 3.1 82.4 1.2 12.2 3.0 83.2 1.6 12.6 3.1 83.1 1.3 12.2 2.7 83.7 1.4 92.4 93.1 92.7 92.8 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 14.3 11.3 29.7 44.7 14.5 11.6 30.5 43.4 13.6 11.3 30.4 44.7 9.8 9.6 32.6 48.0 97.9 98.0 97.9 98.8 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. DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS OCTOBER 1970 AND SEPTEMBER 1970 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ Maturities / 25-30 31-36 Ovef" 3 6 months months months Oct. 1 Sept. Oct. 1 Sept. Oct. | Sept. Oct. 1 Sept. 24 months Total Oct. 1 Sept. PURCHASED PAPER 80% or less 817. to 90% 91% to 100% 101% to 110% Over 110% Total 7.9 1-8 1.8 1.0 0.8 13.3 7.3 0.8 0.7 1.0 0.9 0.9 0.5 0.2 1.0 17.7 0.8 17.6 0.8 24.7 0.4 ' 13.9 0.2 8.3 16.4 17.5 25.2 15.6 8.4 0.1 0.2 0.5 0.2 0.1 0.2 0.2 0.6 0.3 0.3 12.2 3.4 3.1 83.1 1.0 1.7 100.0 100.0 0.3 0.1 0.1 36.3 20.4 26.9 8.5 4.9 7 _> 1.6 82.3 26.7 20.5 27.-8 15.6 9.4 - 24.9 20.3 28.2 17.1 9.5 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 12.7 5.4 5.2 1.0 1.2 12.2 5.2 4.3 1.0 1.0 2.5 1.9 1.7 1.1 0.4 2.4 1.1 2.0 1.3 0.3 19.6 14.5 20.4 5.0 3.9 21.5 14.0 20.5 6.2 3.6 0.2 0.1 0.1 0.1 0.1 0.1 35.0 21.9 27.4 7.2 5.6 Total 26.0 24.4 7.8 7.1 65.6 67.9 0.6 0.6 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 9.0 2.7 2.6 1.0 0.9 8.5 2.5 2.2 0.9 0.8 1.4 1.1 1.1 0.6 0.2 1.3 s 18.1 0.9 16.8 1.1 23.6 0.6 11.7 0.2 7.2 17.6 16.7 24.1 13.3 7.2 0.1 0.2 0.4 0.2 0.1 0.2 0.2 0.5 0.3 0.3 28.6 20.8 27.7 13.5 8.4 27.6 20.3 27.9 15.1 8.4 16.4 15.0 4.5 4.1 78.2 79.5 0.9 1.4 100.0 100.0 TOTAL Total 1/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 100 banks, 51 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 33,000 contracts, 23,000 purchased and 10,000 direct. The cross-classification on this page is based on 15,000 contracts 11,000 purchased and 4,000 direct. The data are hot 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. may not add to totals DigitizedDetails for FRASER because of rounding. L.4.2 -4DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) OCTOBER 1970 AND SEPTEMBER 1970 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale vslue 1/2/ 13 -18 Over 24 12 months 19 -24 months months months less Oct. 1 Sept. Oct. 1 Sept. Oct. 1 Sept. Oct. 1 Sept. Total Oct. 1 Sept. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 3.8 1.6 6.3 1.2 2.1 4.1 2.1 7.1 1.3 2.4 2.3 1.7 2.0 2.0 2.6 2.2 1.9 2.0 1.8 3.5 5.1 4 .6 6.1 4.5 9.0 Total 15 .0 17.0 10.6 11.4 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 7.2 4.1 4.3 1.3 3.2 8.0 4.6 3.3 1.3 3.3 5.9 2.6 4.3 1.2 2.4 5.2 2.0 3.9 0.8 3.3 11.3 8.0 11.5 3.9 4.0 20.1 20.5 16.4 15.2 38.7 4.8 2.3 5.7 1.2 2.4 5.3 2.9 5.9 1.3 2.7 3.4 2.0 2.7 1.8 2.5 3.1 1.9 2.6 1.5 3.4 j 16.5 18.1 12.4 12.6 5.3 4.2 6.3 5.0 8.9 5.6 5.6 10.7 9.5 13.6 5.2 5 .6 9.0 9.0 13.1 29.8 45.1 11.1 8.7 11.6 4.2 4.3 16.8 13.5 25.1 17.3 27 .3 16.8 13.8 24.3 17.1 27.9 41.8 100.0 100.0 7.3 4.3 7.1 3.4 2.5 6.7 4.8 7.0 2.9 3.0 31.8 19.0 27.2 9.8 12.2 31.0 20.1 25.9 9.2 13.8 39.8 24.7 24.5 100.0 100.0 7.0 5.6 7.7 4.4 7.5 7.1 5.6 7.9 4.8 7.5 6.2 5.2 9.6 7.6 10.2 5.7 5.3 8.4 7.1 10.0 21.4 15.2 25.8 15.0 22.7 21.1 15.7 24.8 14.7 23.6 32.1 32.8 38.9 36.5 100.0 100.0 29.3 DIRECT LOANS Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total VContract balance excludes finance and insurance charges. ^/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 100 banks, 48 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 22,000 contracts, 14,000 purchased and 8,000 direct. The cross-classification on this page is based on 10,000 contracts, 7,000 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 compositions.of the group of banks changes from month to month. Details may not add to totals because of rounding.
@FedFRASER