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51o BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM December 17, 1968 DIRECT AUTO LOANS B Y COMMERCIAL BANKS NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 27.5 6.0 66.2 0.3 26.0 6.0 67.7 0.3 26.0 5.9 67.8 0.3 80.1 81.1 81.6 87.8 17.0 13.3 36.4 33.3 16.7 13.1 37.3 32.9 18.9 13.1 37.2 30.8 81.9 83.7 89.1 ' 27.3 6.2 65.5 1.0 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 16.5 12.5 38.0 33.0 ' All used car contracts: Median loan/value ratio 83.4 "Unweighted arithmetic mean of the three monthly ratios. * . sw ? L. 4.2 . -2- DEALER AUTO LOANS B Y 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 13.4 3.1 82.1 1.4 12.5 3.3 82.9 1.3 12.5 3.1 83.1 1.3 91.8 92.5 92.1 " 14.1 3.2 81.7 1.0 Contracts written for 36 months: Median loan/value ratio 93.5 USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 10.0 8.7 31.1 50.2 9.8 10.1 31.4 48.7 9.7 9.3 31.4 49.6 9.3 9.3 31.0 50.4 97.8 97.8 97.9 97.4 All used car contracts: Median loan/value ratio -Unweighted arithmetic mean of the three monthly ratios. L.4.2 -3DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS OCTOBER 1968 A N D SEPTEMBER 1968 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. Total Oct. 1 Sept. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 0.1 7.9 1.8 2.1 0.7 0.5 7.4 1.4 1.8 0.7 0.5 1.1 0.5 0.8 0.3 _OA 1.4 0.5 0.7 0.3 _oA 21.1 16.2 24.9 12.7 8.4 20.7 14.8 27.0 13.5 8.3 0.2 0.1 0.3 0.2 0.1 0.5 0.1 0.1 30.2 18.6 28.1 13.9 9.2 29.6 16.7 30.0 14.6 9.1 12.9 11.8 2.9 3.0 83.3 84.4 0.9 0.8 100.0 100.0 16.4 5.0 4.3 0.8 0.4 15.0 4.1 4.3 1.1 0.6 2.5 1.2 1.7 0.2 0.3 3.8 1.0 1.9 0.2 0.3 33.3 9.9 15.7 3.9 3.9 32.6 10.3 16.-8 3.7 3.8 27.0 25.1 5.9 7.2 66.7 10.1 2.6 2.6 0.7 0.5 9.2 2.0 2.4 0.8 0.5 1.5 0.7 1.1 0.3 0.2 2.0 0.6 1.0 0.3 0.2 16.6 15.0 3.6 4.0 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 0.1 * 0.1 0.1 0.1 0.1 0.2 52.3 16.2 21.8 5 .0 4.7 51.6 15.4 23.1 5.1 4.8 67.4 0.4 0.3 100.0 100.0 24.2 14.6 22.4 10.4 7.2 23.6 13.7 24.6 11.1 7.2 0.1 0.1 0.3 0.2 0.1 0.4 0.1 0.1 36.0 18.0 26.4 11.6 8.0 34.9 16.4 28.4 12.3 8.0 79.0 80.4 0.8 0.6 100.0 100.0 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total * Less than one-tenth of one per cent. NOTE: Distributions for October and September are derived from reports of 107 banks, 70 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 44,000 contracts, 31,000 purchased and 13,000 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. Details may not add to totals because of rounding. DEALER COST RATIOS AND MATURITIES ON A U T O M O B I L E OCTOBER INSTALMENT LOANS 1968 A N D (continued) SEPTEMBER 1968 USED 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 j 12 m o n t h s as p e r c e n t a g e of i or less w h o l e s a l e v a l u e 1/2/I 1 Oct.|Sept. 13-18 months Oct.|Sept. 19-24 | O v e r 24 months i months O c t . |Sept. !Oct. j S e p t . Total Oct. | Sept. PURCHASED PAPER 8 0 % or less 8 1 % to 9 0 % 9 1 % to 1 0 0 % 1 0 1 % to 1 1 0 % Over 3.8 ! 3.8 2.2 2.7 6.3 ; 1.5 j 1.6 1.2 1.7 1.9 5.5 1.8 1.0 1.9 1.2 2.9 6.5 5.5 6.0 4.4 8.4 4.4 9.6 10.8 9.3 14.0 9.0 10.6 31.0 31.6 ! 10.9 '11.6 6.4 5.5 16.1 1.4 1.3 4.3 0.8 1.8 1.5 1.1 1.6 4.3 10.9 3.2 3.0 14.6 13.7 37.6 3.6 1.2 2.5 9.3 5.1 7.9 4.0 6.7 11.5 33.0 ; I.O 1.8 110% ! 9.7 Iota 1 I 1-5 ! 1.2 2.4 JLA I10'0 | 80% or 81% less to 9 0 % 4.0 0.8 1.2 1.1 1.6 Total 1 6 .4 ! 18.5 6.8 18.6 15.5 10.6 8.3 20.7 15.6 26.6 19.9 15.1 30.6 50.3 4 7 .8 100.0 100.0 15.0 13.2 16.0 4.0 10.1 2.7 3.9 3.1 6.9 2.5 3.8 3.3 5 .9 2.2 4.2 46.6 10.1 48.1 10.1 35.6 29.6 31.6 100.0 100.0 8.9 5 .0 7.3 3.9 7 .8 8.4 7 .8 9.6 7.2 10.9 9.4 5.7 9.1 6.4 12.0 27 .1 16.0 22.1 13.2 21.6 28.1 13.8 21.3 12.5 24.3 44.0 42.7 100.0 100.0 9.9 HA 18.9 DIRECT LOANS i 1.4 3,3 91% to 1 0 0 % 101% to 110% O v e r 110% | 6.0 ! 6.3 18.2 j 19 .1 4.0 1 I 25.4 7.7 10.2 i 24.1 6.8 10.9 TOTAL 8 0 % or 6 .0 less 8 1 % to 9 0 % 9 1 % to 1 0 0 % 101% to 110% Over 110% Total 6.3 1.3 2.3 1.5 2.1 1.0 1.8 1.1 2.0 3.5 1.5 2.6 0.9 2.2 12.3 12.9 10.7 1.8 2.6 32.9 V C o n t r a c t b a l a n c e e x c l u d e s f i n a n c e and i n s u r a n c e c h a r g e s . ^ / W h o l e s a l e v a l u e r e p r e s e n t s " a v e r a g e w h o l e s a l e , " "as is," or " b u y i n g v a l u e " as indicated by used car g u i d e s . NOTE: D i s t r i b u t i o n s for O c t o b e r and S e p t e m b e r are d e r i v e d from r e p o r t s of 107 b a n k s , 67 of w h i c h r e p o r t e d d e a l e r cost r a t i o s as w e l l as m a t u r i t i e s . The October maturity d i s t r i b u t i o n for used cars s h o w n on p a g e s 1 and 2 is b a s e d on 3 0 , 0 0 0 c o n t r a c t s , 2 0 , 0 0 0 p u r c h a s e d and 1 0 , 0 0 0 d i r e c t . T h e c r o s s - c l a s s i f i c a t i o n on this page is based on 17,000 contracts, 12,000 purchased and 5,000 direct. T h e d a t a are not intended to be e s t i m a t e s for all c o m m e r c i a l b a n k s and are not c o m p a r a b l e w i t h p r e v i o u s r e l e a s e s s i n c e c o m p o s i t i o n of the g r o u p of b a n k s c h a n g e s from m o n t h to m o n t h . DigitizedD efor FRASER tail s m a y not add to totals b e c a u s e of r o u n d i n g .
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