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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM i L.4.2 December 13, 1967 DECONTROLLED AFTER SIX MONTHS too. DIRECT A U T O LOANS BY COMMERCIAL BANKS D'c-O 13 J °7 October 1967 September 1967 Three months ending October* 1967 | 1966 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 28.9 6.3 64.4 0.4 27.8 6.5 65.1 27.3 28.0 6.6 65.5 65.1 0.3 6.2 0.6 1.0 Contracts written for 36 months: Median loan/value ratio 86.8 87.3 USED CAR CONTRACTS Per cent of contracts w r i t t e n for: 12 months or less 13-18 months 19-24 months Over 24 months 16.0 12.1 38.0 33.9 17.4 14.2 .38.6 29.8 89.8 90.6 . 18.9 13.1 37.2 30.8 19.1 14.1 37.1 29.7 89.1 88.8 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) October 1967 September 1967 Three months ending October* 1967 | 1966 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 15.9 3.2 79.7 1.2 13.9 3.1 82.0 1„0 14.1 3.2 81.7 1.0 13.6 3.6 81.8 1.0 93.5 93-6 93o5 93.5 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 8.3 8.6 29.4 53.7 9.8 9.3 31.6 49.3 9.3 9.3 31.0 50.4 9.9 9.8 30.5 49.8 97.4 97.9 97.4 99.0 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the threee monthly ratios. i6y- L.4.2 DEALER COST RATFOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS OCTOBER 1967 AND SEPTEMBER 1967 NEW.CARS (Peirentage distribution of conirncts) 24 months less | Sept. Oct. as percentage of dealer cost 1/ Maturities 25 -30 31 -36 Over 36 months months months Oct. 1 Sept. Oct. 1 Sept.|0ct. 1 Sept. T , Oct. 1 sept. 26.9 17.6 29.4 15.8 10.3 27.0 16.5 31.5 15.4 9.6 PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 0.1 9.1 1.8 2.5 1.0 0.7 8.8 1.5 2.3 0.7 0.4 1.3 0.6 0.9 0.5 0.2 1.3 0.5 0.8 0.3 o.i 16.4 15.1 25.9 14.2 9.3 16.8 14.4 28.1 14.3 9.0 0.1 0.1 0.2 0.1 0.2 0.1 M M 15.0 13.7 3.5 3.1 80.9 82.6 0.6 0.6 100.0 100.0 DIRECT LO. .NS 14.6 4.8 5.5 1.0 0.7 2.3 1.1 2.2 0.5 0.3 2,8 1.1 2.2 0.6 0.2 24.41 23.9 1 * 11.8 ! 10.7 ! * 21.0 1 0.2 19.0 5.9 5.1 4.1 M 4- 6 0.4 0.1 0.1 0.2 42.4 17.7 26.6 6.5 41-7 16.9 28.7 7.7 27.9 26.6 6.5 6=9 64.9 65.6 0.7 0.9 100.0 100.0 10.6 2.5 3.1 1.0 0.9 10.0 2.2 3.0 0.8 0.5 1.6 0.7 1.2 0.5 0.2 1.7 0.7 1.1 0.4 0.2 18.3 14.3 24.2 12.0 8.2 18.3 13.6 26.5 12.4 7.9 0.1 0.1 0.2 0.1 0.1 0.1 0.2 0.1 30.6 17.6 28.7 13.6 M M 30.3 16.5 30.9 13.7 8.6 4.2, 4.0 77.1 78.9 0.6 0.6 100.0 100.0 15.6 4.7 5.2 0.8 1.6 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 1 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total | 18.1 16.5 V C o n t r a c t 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 108 banks, 68 of which reported dealer cost ratios as well as maturities. The October maturitydistribution for new cars shown on pages 1 and 2 is based on 34,000 contracts, 24,000 purchased and 10,000 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. -U- L.4.2 DEAT.ER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT r.DANS (continued) OCTOBER 1967 AND SEPTEMBER 1967 USED CARS (l\ i rentage distribution of Contract balance as percentage of wholesale value 1/2/ 1')- >_U 13-18 Over 24 months months months Oct.|Sept. Oct*1 S e p t O c t . ! S e p t . Oct. |Sept. | 12 months Total Oct. ]Sept PURCHASl-D PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 2.8 1.1 1.3 0.9 3.9 1.1 1.7 1.1 2.3 2.2 1.5 1.8 1.0 2.2 1.5 1.7 1.1 2.7 4.7 4.6 8.9 4.1 7.6 5.7 6.2 5.7 6.8 4.6 8.8 8.1 12.6 11.2 8.6 9.3 3.9 8.8 16.6 16.7 7.9 10.1 8.7 9.6 30.0 31.2 53.4 49.1 9.6 2.3 4.1 0.7 1.6 11.2 5.4 1.8 4.6 0.7 1.9 5.8 1.9 5.8 1.0 2.1 11.r. 5.1 12.3 2.7 5.1 18.2 19.9 14.5 16.6 37.1 4.9 -1.4 2.2 0.8 1.8 6.0 1.3 2.5 1.0 2.1 11.1 13.0 U8 2.6 15.9 16.0 ' 24. 6 15.2 28.3 17.9 14.1 22.8 14.7 30.5 100.0 100.0 37.9 12.3 29.9 6.8 13.1 37.9 11.4 30.2 8.0 37.1 30.2 26.4 100.0 100.0 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 1.7 4.4 0.9 1.6 12.7 10.9 3.1 5.3 11.8 9.0 3.0 2.7 4.4 4.5 1 8.2 2.5 8.2 3.0 4.4 | ! TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 3.6 1.6 2.9 1.1 2.5 6.9 4.8 9.9 3.7 6.9 7.6 6.5 7.8 5.6 4.8 7.1 9.2 11.5 10.3 7.3 6.9 3.7 7.5 13.0 13.1 22.5 14.9 26.2 12.7 23.7 23.9 13.3 25.0 12.7 25.1 10.4 11.7 32.1 32.9 46.4 42.4 100.0 100.0 3.1 1.6 2.6 0.9 2.1 1/Contract 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 108 banks, 6 4 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 26,000 contracts, 17,000 purchased and 9,000 direct. The cross-classification on this page is based on 15,000 contracts, 10,000 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. http://fraser.stlouisfed.org/ Details may not add to totals Federal Reserve Bank of St. Louis because of rounding.
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