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JAN 141953 RBflMVTB'XNK - - Not f o r puS&lcatlon' L.4.2 BOAED OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM January 12, 1959 nmSL SIXtiOfiTH^tATURITIESON AUTOMOBILE INSTALMENT LOANS DECONTROLLED M i NOVEMBER 1958 AND OCTOBER 1958 (Percentage d i s t r i b u t i o n of c o n t r a c t s ) - Total Nov. Oct. Maturities Purchased Paper Nov. Oct. New c a r s 24 months or l e s s . 25-30 months 31-36 months Over 36 months' Total 31.7 15.6 52.4 0.3 100.0 29.7 15.8 54.3 0.2 100.0 100.0 Used c a r s l / 12 months o r l e s s 13-18 months 19-24 months Over 24 months Total 18.0 20.1 41.6 20.3 100.0 17.7 20.2 42.0 20.1 T00T0 13.6 ' 15.9 43.8 26.7 100.0 24.2 13.3 62.1 Nov. Direct loans Oct. 22.5 13.6 63.6 • 0.3 100.0 49;1 20.8 30.0 0.1 100.0 48.1 21.5 30.2 0.2 100.0 13.8 16.6 43.3 26.3 100.0 26.4 27.7 37.5 8.4 100.0 25.1 27.0 39.6 8.3 100.0 l / F i g u r e s a r e predominately f o r l a t e model used c a r s "but i n c l u d e d a t a 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 a r e based on t a b u l a t i o n s of d a t a from 138 banks f o r October and November and a r e n o t intended t o be e s t i m a t e s f o r a l l commercial banks. I n November r e p o r t s covered about 22,000. c o n t r a c t s on new c a r s , 15,000 purchased and 7,000 d i r e c t , and 20,000 c o n t r a c t s on used c a r s , 13,000 purchased and 7,000 d i r e c t . Since composition of t h e 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 . For d i s t r i b u t i o n according t o 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 centage of d e a l e r c o s t , see f o l l o w i n g pages. Not f o r p u b l i c a t i o n - 2 - DE/LER COST RATIOS ;ND MATURITIES O'N adtomobtle instalment loans L.4.2 NOVEMBER' 1958 AND OCTOBER 1958 NEW CAES Contract balance a s percentage of Maturities Over 3b 31-36 . 25-30 months months months Nov. | 0 c t . Nov. IlOct. Nov. 1 Oct. 24 months or l e s s Nov. Oct. Tot a l Nov. 1 Oct. .PURCHASED PAPER 80$' o r l e s s 81$ t o 90$ 91$ t o 100$ 101$ t o 110$ Over 110$ Total 13.8 4.2 • 4.2 1.1 - 0.5 14.3 ,3.6 3.3 0.9 0.4 4.4 2.8 4.3 1.9 0.5 23.8 22.5 13.9 4 . 2 " 12.6 13.1 21.4 10.4 0.6 13.6 14.9 21.5 8.8 4.4 0.1 62.2 •63.2 0.1 14.2 0.1 30.8 20.1 30.0 13.4 5-7 32.1 22.0 • 29.2 11.3 5.4 0.1 100.0 100.0 DIRECT LOANS 80$ o r l e s s 81$ t o 90$ 91$ t o 100$ 101$ to. 110$ Over 110$ Total 10.2 49.5 2 2 . a . 22.9- 26.7 5-9 1.2 50.4 10.0 11.4 H . 2 7 . 2 ' 5.7 4.3 6.8 7-.1 5 - 9 2.6 1.2 1.7 0.3. -£i5 J ^ 2 32.3 8.1 6r3 1.9 0,9 k d 1.1 Total 18.8 ' - 6 . 0 5.7 3.3 : 3 . 7 5-0 4.9 1.2 1.1 1.5 0.5 0,5 j ^ 6 19.2 1$ 31.1 29.4 M 16.3 16.4 12.2 11-5 17.2 8.0 3.6 52.5 '• - 54.1 : 53.8 55.0 18.1 s i " . 20.2 4.0' ' 5 . 7 2.2 1.2 ;i 13.0' 12.6 17.8 • Q . l U * * 0 . 1 • •0-»3 — •100.0 - 100.0 27.3 TOTAL • 80$ o r l e s s 81$ t o 90$ 91$ t o 100$ 101$ t o 110$ Over 110$ 0.3 0.1 0.1 * 37.4 20.4 26.9 10.8 4^5 37.6 Sfl.O 26.9 0.1 100.0 100.0 * 0.1 u •Lees than o n e - t e n t h of one p e r c e n t . NOTE: 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 83 banks f o r October and November 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 banks. I n November r e p o r t s covered about 12,000 c o n t r a c t s on new c a r s , 9#000 purchased and 3,000 d i r e c t . Since composition of t h e group of banks changes from month t o 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 . Not f o r -publication - 3 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) L.4.2 NOVEMBER 1958 AND OCTOBER 1958 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 ) Maturities Over 24 19-24 12 months Contract balance 13-18 months months months or l e s s as percentage of Nov. lOct. Nov. lOct. Nov. Nov. lOct. Oct. wholesale value l / 2 / Total Nov. 1 Oct. PURCHASED PAPER 80% or l e s s 81% to 90% 91% to 100% 101% t o 110% Over 110% Total 4.0 1.2 1.9 2.0 1.8 10.9 4.0 5.3 10.0 23.0 16.6 25.3 18.1 17.0 20.6 16.6 27.2 18.6 17.0 29.0 29.4 100.0 100.0 48.0 17.5 21.9 49.9 18.3 21.1 3-1 0.9 1.8 4.1 2.5 2.9 2.2 4.7 2.3 2.9 2.3 2.5 10.1 7.7 11.6 8.3 8.8 8.1 12.5 8.9 8.3 4.8 9-3 14.2 14.7 45.9 46.6 ±1 2:5 5.6 U DIRECT LOANS 80% or l e s s 81% t o 90% 91% to 100% 101% to 110% Over 110% Total 3.2 0.8 1.4 15.4 2.0 2.5 0.7 0.9 % U 13.3 3.9 6.1 1.3 1.3 14.0 8.2 10.3 4.4 2.0 18.3 10.3 10.7 1.9 2.2 2.4 1.8 2.7 0.6 2.9 2.1 1.8 1.2 1.2 23.7 21.5 29.0 25.9 38.9 43.4 8.4 9.2 100.0 100.0 8.0 1.7 2.3 1.6 1.7 7-5 1.3 2.1 1.5 1.3 8.2 3.3 3.9 1.9 2.0 7-8 2.8 4.1 1.9 2.1 11.4 7-9 11.2 6.9 12.2 8.9 11.8 6.4 4.0 4.0 6.8 3.9 3.6 4.2 7.0 4.0 31.6 16.9 24.2 14.3 13.0 31.1 17.2 25.O 13.8 12.9 15.3 13.7 19.3 18.7 43.5 45.4 21.9 22.2 100.0 100.0 Ji Ji TOTAL 80% or l e s s 81% t o 90% 91% to 100% 101% t o 110% Over 110% Total jS.1 -1£ 1/C on t r a c t "balance does" n o t include f i n a n c e and insurance c h a r g e s . 2/Wholesale value r e p r e s e n t s "average w h o l e s a l e , " "as i s , " "or buying value" as i n d i c a t e d by used c a r g u i d e s . NOTE: 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 83 banks f o r October and November and a r e n o t intended t o be e s t i m a t e s f o r a l l commercial banks. In November r e p o r t s covered about 11,000 c o n t r a c t s on used c a r s , 7,000 purchased and 4,000 d i r e c t . Since composition of the group of banks changes from month t o month, d a t a a r e n o t comparable with previous r e l e a s e s .
@FedFRASER