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H Z Z . Not for publication. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ^~lr*4 .2- - - = - -'" j February 20, 1967. ' < -DECONTROLLED AFTEfjJ SIX MOUTHS DIRECT AUTO NS^BY COMMERCIAL BANKS December 1966 Three months ending December* 1966 I 1965 November 1966 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 32.2 6.5 61.1 0.2 31.7 6.6 31.5 6.7 61.6 0.1 61.6 0.2 85.8 86.5 30.2 6.7 62.9 0.2 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 17.3 13.2 37.3 32.2 17.0 12.6 37.5 32.9 18.4 13.4 37.4 30.8 18.4 13.2 36.8 31.6 90.7 89.4 89.4 88.9 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. Not for publication L.4.2 -2- DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) Three months ending December* 1966 | 1965 December 1966 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 16.8 4.4 78.0 0.8 17.8 3.8 77.4 1.0 16.7 3.9 78.5 0.9 16.7 4.1 78.4 0.8 92.4 92.2 92.6 93.4 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 9.1 8.9 29.9 52.1 9.2 9.3 29.9 51.6 9.4 9.2 29.7 51.7 9.3 9.3 30.3 51.1 95.8 95.7 96.6 97.3 All used-car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. Not for publication L.4.2 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS DECEMBER 1966 AND NOVEMBER 1966 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost V 24 months or less Dec. 1 Nov. Maturities 25-30 31-36 Over 36 months month s months Total iDec. |Nov. Dec. |Nov. IDec. iNov. I Dec. 1 Nov. PURCHASED PAPER * 8.7 2.5 3.4 1.2 0.4 10.0 2.3 3.6 1.4 0.5 1.5 0.8 1.6 0.6 0.3 1.3 0.5 1.3 0.3 0.2 16.9 16.5 25.1 12.9 7.5 17.7 16.0 24.3 12.9 7.4 0.1 0.1 27.2 19.8 30.2 14.7 8.1 29.1 18.8 29.4 14.6 8.1 16.2 17.8 4.7 3.7 78.8 78.3 0.2 0.2 100.0 100.0 19.0 5.8 6.4 1.1 -2^5 19.2. 5.9 6.6 1.4 2.9 1.4 3.2 0.5 23.8 10.1 16.4 5.2 3.9 0.1 0.1 M 21.0 13.7 16.0 5.6 2.8 42.9 21.0 25.6 7.2 -2A 2.9 1.3 2.1 0.4 0.2 45.9 17.4 25.1 7.1 4.5 Total 32.8 33.6 8.1 6.8 59.0 59.4 0.2 0.1 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 11.1 3.3 4.1 1.2 0.4 12.0 3.1 4.3 1.4 1.8 0.9 1.9 0.5 17.8 15.9 23.0 11.2 6.4 19.0 14.8 22.6 11.2 6.6 0.1 0.1 M 1.7 0.7 1.5 0.3 0^2 30.7 20.0 29.2 13.0 7.1 20.0 21.2 5.4 4.3 74.3 74.2 0.2 0.2 100.0 80% or less 817, to 90% 91% to 100% 101% to 110% Over 110% Total DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% TOTAL Total * * 32.8 18.5 28.4 13.0 ' 7.3 100.0 Contract balance excludes finance and insurance charges. Less than one-tenth of one per cent. NOTE: Distributions for December and November are derived from reports of 99 banks, 61 of which reported dealer cost ratios as well as maturities. The December maturity distribution for new cars shown on pages 1 and 2 is based on 30,000 contracts, 21,000 purchased and 9,000 direct. The cross-classification on this page is based on 16,000 contracts, 12,000 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. Not for publication L.4.2 -4DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) DECEMBER 1966 AND NOVEMBER 1966 USED CARS (Percentage distribution of contracts) Contract bfllsncG as percentage of wholesale value 1/2/ Maturities 12 months 13-18 19-24 Over 24 months or less months months Dec. | Nov. Dec. | Nov. Dec. | Nov. Dec. | Nov. Total Dec. | Nov. PURCHASED PAPER 3.2 1.1 1.7 0.8 2.9 1.3 1.7 0.9 2.5 1.6 1.9 0.9 5.5 5.2 6.7 3.7 5.0 4.6 7.7 3.3 7.5 6.1 6.9 12.3 12.5 11.7 11.2 8.5 7.9 15.2 15.4 16.9 20.3 22.0 13.9 26.9 28.0 53.8 53.9 100.0 100.0 17.2 20.0 22.5 13.0 h i h i 2.1 1.6 1.9 0.9 2.3 Total 8.5 8.7 8.7 9.3 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 8.6 2.1 4.4 1.1 1.9 8.6 1.8 5.3 1.7 1.6 5.0 2.1 3.9 1.0 2.4 5.0 1.9 4.0 0.7 1.7 12.1 4.7 11.4 3.7 5.5 13.0 i 9.9 11.3 3.5 4.2 4.9 10.4 8.1 9.0 3.1 3.1 3.0 5.6 •4.4 4.5 35.6 12.4 27.8 8.8 15.4 38.0 12.8 28.6 8.5 12.1 18.1 18.9 14.3 13.3 37.4 35.9 30.2 31.9 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% h i h i 28.9 - I h l DIRECT LOANS Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 4.6 1.4 2.4 0.9 1.8 4.3 1.4 2.6 1.1 1.8 11.0 11.2 3.1 1.7 2.4 0.9 2.3 7.2 5.1 7.9 3.7 7.2 7.0 4.7 8.4 3.2 6.7 7.1 8.0 10.1 10.5 10.8 10.7 7.1 6.6 12.8 12.7 21.6 18.3 23.5 12.6 24.0 22.4 18.2 24.1 11.8 23.5 10.1 10.3 31.0 30.0 47.8 48.4 100.0 100.0 2.8 1.7 2.4 0.9 2.3 1/ Contract 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 December and November are derived from reports of 99 banks, 59 of which reported dealer cost ratios as well as maturities. The December maturity distribution for used cars shown on pages 1 and 2 is based on 22,000 contracts, 15,000 purchased and 7,000 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. Digitized for Details FRASER may not add to totals because of rounding.
@FedFRASER