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Not for publication. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM L.4.2 DECONTROLLED AFTER SIX MONTHS January 13, 1967. t^/loaj DIRECT AUT<y LOANS BY COMMERCIAL BANKS November 1966 Three months ending November* 1966 1965 October 1966 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 32.4 6.6 30.3 6.9 29.9 6.8 28.5 6.6 60.9 0.1 62.6 0.2 63.1 64.7 88.2 89.6 86.5 89.7 0.2 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 17.4 12.7 37.1 32.8 19.7 14.4 '38.4 27.5 18.7 13.6 37.2 30.5 18.2 13.6 37.8 30.4 90.4 91.2 88.8 90.6 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 Not for publication L.4.2 -2- DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) Three months ending November* 1966 I 1965 November 1966 NEW CAR CONTRACTS Per cent of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 18.1 3.8 77.2 0-.9 15.4 3.6 15.4 3.7 80.1 80.0 0.9 0.9 15.8 3.9 79.6 0.7 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 10.0 9.3 9.3 29.8 51.6 9.6 29.4 51.0 9.8 9.6 30.0 50.6 9.9 9.7 31.1 49.3 96.0 97.4 97.8 97.4 All used car contracts: Median loan/value ratio •Unweighted arithmetic mean of the three monthly ratios. Hio Not for publication -3- L.4.2 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS NOVEMBER 1966 AND OCTOBER 1966 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ 24 months or less Nov. 1 Oct. Maturities Over 36 31 -36 25 -30 months months months Nov. 1 Oct. 1 Nov . 1 Oct. Nov. I Oct. Total Nov. I Oct. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 10.0 2.3 3.7 1.4 0.5 8.4 2.1 2.5 1.2 0.4 1.3 0.5 1.3 0.3 0.2 1.3 0.6 1.1 0.4 0.2 17.1 16.2 24.4 13.1 7.6 16.2 17.2 25.8 14.1 7.8 * 0.2 0.1 17.8 14.5 3.6 3.6 78.3 81.1 0.2 18.5 6.4 7.1 1.6 0.5 16.1 5.8 6.9 1.9 0.4 2.8 1.4 2.1 0.5 0.2 2.7 1.4 2.9 0.4 34.0 31.0 7.0 0.4 28.5 19.0 29.4 14.8 8.3 26.1 19.9 29.9 15.7 8.4 0.7 100.0 100.0 0.1 37.8 19.4 28.3 10.8 3.7 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 19.0 12.2 18.5 8.6 3.2 0.1 M 20.6 10.9 17.6 5.6 4.3 0.1 * * 41.9 18.7 26.8 7,6 5.0 7.5 58.9 61.4 0.1 0.1 100.0 100.0 0.2 28.4 19.7 29.6 14.8 100.0 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 11.8 3.2 4.4 1.4 0.5 9.8 2.8 3.4 1.3 0.4 1.6 0.7 1.4 0.3 0.2 1.6 0.7 1.5 0.4 0.2 17.8 15.1 23.0 11.6 6.9 16.8 16.1 24.4 13.0 6.9 0.1 0.4 31.2 19.0 28.9 13.4 7.5 21.2 17.7 4.2 4.3 74.3 77.3 0.2 0.6 100.0 1/ Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for November and October are derived from reports of 100 banks, 60 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 36,000 contracts, 26,000 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. DigitizedDetails for FRASER may not add to totals because of rounding. MZ/ Not for publication L.4.2 -4DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) NOVEMBER 1966 AND OCTOBER 1966 USED CARS (Percentage distribution of contracts) as percentage of 12 months or less Nov. 1 Oct. 13 -18 months Nov. Oct. Maturities 19-24 Over 24 months months Nov. 1 Oct. Nov. I Oct. Total Nov. I Oct. PURCHASED : PAPER 2.9 1.4 1.7 0.9 1.9 3.1 1.3 1.7 0.9 2.2 2.5 1.6 1.9 0.9 2.5 2.0 1.5 2.0 1.1 2.6 4.7 4.5 7.8 3.3 7.5 4.4 4.4 7.6 4.0 8.0 Total 8.8 9.3 9.4 9.3 27.8 28.4 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 8.6 1.8 5.5 1.7 1.6 8.9 2.0 4.9 0.9 1.2 5.0 2.0 4.1 0.7 1.8 4.6 12.2 2.3 4.8 4.6 10.8 1.4 3.2 1.8 4.6 10.7 6.3 10.9 3.2 4.5 10.1 4.4 9.4 3.1 4.6 Total 19.3 17.9 13.5 14.7 35.6 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 4.3 1.5 ' 2.6 1.1 1.9 4.6 1.5 2.5 0.9 2.0 3.1 1.7 2.4 0.9 2.3 11.4 11.5 10.4 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 6.3 12.2 11.7 8.2 15.6 5.8 11.0 11.0 10.1 15.1 16.4 19.7 23.1 13.3 27.5 15.3 18.3 22.2 16.2 28.0 53.9 53.0 100.0 100.0 8.4 3.7 7.5 7.2 5.0 35.9 12.9 29.8 8.8 12.6 32.6 14.2 27.9 12.7 12.6 35.5 31.5 31.8 100.0 100.0 6.5 4.5 8.6 3.3 6.8 6.0 4.9 8.5 3.8 7.1 7.2 6.5 10.3 9.1 11.1 10.1 6.9 9.3 12.9 12.5 21.1 18.0 24.8 12.2 23.9 19.8 17.2 23.7 15.3 24.0 10.7 29.7 30.3 48.5 47.4 100.0 100.0 DIRECT LOANS TOTAL Total 2.7 1.7 2.6 1.2 2.4 1/ Contract balance excludes finance and insurance charges. 7J Wholesale value represents "average wholesale," "as is," or "buying value" as indicated by used car guides. NOTE: Distributions for November and October are derived from reports of 100 banks, 57 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 25,000 contracts, 18,000 purchased and 7,000 direct. The cross-classification on this page is based on 13,000 contracts, 10,000 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. Details may not add to totals because of rounding.
@FedFRASER