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$
B O A R D OF
G O V E R N O R S OF
THE FEDERAL RESERVE SYSTEM
L.4.2
July
DECOHTROM®
11,
1968
AFTBR SIX M O ^ B S
DIRECT AUTO LOANS BY COMMERCIAL BANKS
/
^
^ ( j a n
j ;
May
April
1968
1968
V
5y
i 0
C(
5 - f a l
H i e n f
Three months
ending May*
1968
\1967
28.0
6.2
NEW CAR CONTRACTS
Per
cent
of
contracts written
for:
26.3
27.3
26.9
25-30 months
5.6
31-36 months
67.9
5.7
66.3
5.8
66.9
64.5
0.2
0.7
0.4
1.3
85.3
85.3
24 months
Over
or
less
36 m o n t h s
Contracts written
Median
for
loan/value
36 m o n t h s :
ratio
USED CAR CONTRACTS
Per
cent
of
contracts written
for:
15.1
16.5
15.9
19.6
13-18 months
12.3
12.9
12.7
19-24 months
38.9
37.3
37.7
12.7
36.5
Over
33.7
33.3
33.7
31.2
87.9
86.8
88.7
12 m o n t h s
All
or
less
24 months
used
Median
car
contracts:
loan/value
^Unweighted
ratio
arithmetic mean
of the
three monthly ratios.
L.4.2
-2DEALER AUTO LOANS BY COMMERCIAL BANKS
(PURCHASED PAPER)
Three months
May
ending May*
1968
1968
NEW CAR
Per
cent
of contracts w r i t t e n
24 m o n t h s
or
1967
CONTRACTS
for:
less
14.2
25-30 months
3.3
14.2
3.2
14.1
3.4
14.1
3.8
31-36 months
81.4
80.7
80.8
81.0
1.1
1.9
1.7
1.1
92.1
92.5
Over
36 m o n t h s
Contracts written
Median
for
loan/value
36 m o n t h s :
ratio
USED
Percent
of
12 m o n t h s
contracts written
or
CAR
CONTRACTS
for:
less
13-18 months
8.4
8.6
8.6
9.2
8.0
8.9
8.5
9.4
19-24 months
31.1
29.9
30.3
30.4
Over
52.5
52.6
52.6
51.0
All
24 months
used
Median
car
contracts:
loan/value
^Unweighted
ratio
arithmetic mean
97.0
of
the
three monthly
99.1
ratios .
l'A.2
-3DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE
MAY
INSTALMENT LOANS
1968 A N D A P R I L
1968
NEW 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 )
as
percentage
dealer
cost
24 months
of
or
1/
May
less
25-30
31-36
months
months
| Apr. May
|Apr. M a y
Over
36
Total
months
| Apr. May
| Apr.
May
|
Apr.
PURCHASED PAPER
8 0 % or
less
8.4
8.5
1.4
1.3
20.3
30.2
30.4
to
90%
1.6
1.4
0.4 0.4
14.9
0.1
15.1 0.1
0.4
81%
0.2
91%
to
100%
2.2
2.1
0.8
1.0
26.8
26.6
0.3
0.7
17.1
30.2
17.1
30.4
1.2
0.6
0.3
0.3
12.3
12.1
0.1
0.9
0.7
0.3
0.2
7.5
7.6
14.3
13.4
3.3
3.1
81.8
81.5
101%
to
Over
110%
Total
E
u;v
110%
less
13.5
14.9
2.5
;
81%
to
90%
6.7
6.7
;;
91%
to
ioo%
4.3
3.9
1.4
1.6
gk
101%
110%
13.8
13.2
8.7
8.9
2.0
100.0
100.0
2.8
24.7
23.4 0.1
0.5
40.7
1.2
16.7
18.3
0.1
41.7
26.5
18.0
17.4
0.1
0.2
24.8
1.7
0.2
24.0
23.3
5.3
5.0
1.1
0.5
0.2
0.6
0.5
0.3 M
26.2
26.7
110%
Total
}
"
to
Over
%
•{
0.6
0.3
0.4
DIRECT LOANS
8 0 % or
Jv
20.1
5.9
6.2
4.2
0.1
*
0.1
6 .6
3.0
2.4
*
0.4
3.9
3.5
67.6
65.9
0.3
1.2
100.0
100.0
TOTAL
8 0 % or
less
81%
to
90%
9.9
3.1
10.4
3.0
91%
to
100%
2.8
2.6
101%
to
Over
110%
-i
^/Contract
*
Less
balance
excludes
than one-tenth
NOTE:
Distributions
74 of w h i c h
reported
d i s t r i b u t i o n for n e w
3 1 , 0 0 0 p u r c h a s e d and
on
25,000 contracts,
to b e
estimates
releases
of
since
for
for
0.4
0.2
19.3
33.7
19.8
24.0 0.3
0.6
28.4
28.4
0.6
0.3
0.2
10.3
9.8
0.2
0.3
0.2
6.2
6.1
0.4
11.7
7.3
10.8
0.7
17.7
17.2
4.0 4.0
77.8
1.8
100.0
100.0
finance
per
May
and
insurance
and A p r i l are
cost
ratios
18,000 purchased
the
D e tfor
a i lFRASER
s m a y n o t a d d to t o t a l s
Digitized
7.3
charges.
group
because
derived
as w e l l
from reports
as m a t u r i t i e s .
of
114 banks,
The May maturity
1 a n d 2 is b a s e d o n 4 7 , 0 0 0 c o n t r a c t s ,
c r o s s - c l a s s i f i c a t i o n o n t h i s p a g e is b a s e d
and
commercial banks
c o m p o s i t i o n of
77.0 0.5
cent.
cars shown on pages
16,000 direct.
The
all
21.1 0.1
16.0 0.1
33.3
15.4
24.2
1.1
one
dealer
21.6
1.2
1.1
0.8
110%
Total
1.7 1.7
0.7 0.7
7,000 direct.
and
are not
of banks
The data are not
comparable with
c h a n g e s "from m o n t h
of r o u n d i n g .
intended
previous
to m o n t h .
L.4.2
-4DEALER
COST RATIOS AND
ON AUTOMOBILE
MATURITIES
INSTALMENT LOANS
MAY
1968 A N D A P R I L
(continued)
1968
USED CARS
(Percentage
Contract
as
8 0 % or
less
1/2/
817= to 9 0 %
to
100%
101%
to
110%
13 - 1 8
19 - 2 4
months
. months
Mav
1 Aor.
Mav
3.5
3.4
2.1
1.3
1.1
1.3
1.2
1Aor.
Mav
Over
,
24
months
1 Aor. Mav
Mav
1 Aor.
1
Aor.
PURCHASED
PAPER
2.3
5.9
5.8
7.5
6.9
19.0
18.4
1.1
5.5
5.3
8.1
8.2
16.2
15.7
20.3
1.5
1.4
0.8
1.5
6.9
6.4
1.0
1.1
0.9
4.2
4.0
8.7
8.8
14.9
14.5
1.8
2.3
1.9
3.0
9.2
8.4
15.9
17.3
28.8
31.1
oo
91%
contracts)
Maturities
12 m o n t h s
of
value
less
Over
of
balance
percentage
wholesale
distribution
9.0
7.9
8.9
31.6
29.8
51.7 52.3
100.0
100.0
8.8
9.1
5.2
6.1
39.6
110%
Total
11.5
11.1
21.1
DIRECT LOANS
8 0 % or
less
13.7
13.7
10.1
10.8
37.8
81%
to 9 0 %
3.1
2.8
2.0
2.0
5.7
5.6
4.8
4.9
15.5
15.3
91%
to
3.4
4.0
3.8
4.0
10.8
9.8
8.4
7.6
26.5
25.3
0.7
0.8
0.9
0.8
3.6
2.7
3.5
3.4
8.8
1.0
1.7
_ L 2
1.7
4.8
_4^5
4.4
4.1
7.7
12.1
17.0
18.4
13.2
14.6
38.6
36.3
31.2
30.7
100.0
100.0
100%
101%
to
Over
110%
110%
Total
TOTAL
8 0 % or
less
81%
91%
90%
100%
to
to
5.1
1.8
1.8
to
110%
Total
^/Contract
balance
^/Wholesale value
as
indicated
NOTE:
24,000
reported
for
to b e
0.8
1.0
0.9
2.1
1.7
2.6
11.2
12.0
9.5
10.6
purchased
estimates
since
finance
and
for
and
"average wholesale,"
for M a y
cars
8.3
5.4
8.2
7.1
8.1
7.2
24.5
16.0
25.0
15.6
8.0
7.4
3.6
10.6
10.0
22.7
21.9
7.2
12.4
12.5
7.1
13.1
13.1
7.2
23.7
25.1
31.9
45.6
45.5
100.0
100.0
4.0
-LI
33.7
charges.
"as
and A p r i l are derived
cost
ratios
as w e l l
shown on pages
12,000 direct.
13,000 purchased
all
insurance
8.2
5.6
is," or
"buying value"
guides.
dealer
used
19,000 contracts,
releases
car
3.5
1.4
2.3
1.6
represents
used
Distributions
70 o f w h i c h
distribution
on
by
excludes
3.0
1.5
2.2
0.9
110%
101%
Over
5.2
1.6
2.2
The
the
group
because
from reports
as m a t u r i t i e s .
2
is b a s e d
on
6,000 direct.
and
are
of b a n k s
not
The data
114 banks,
May maturity
this
page
are not
comparable with
changes
of rounding.
of
The
36,000 contracts,
cross-classification on
and
commercial banks
composition of
Digitized
D e tfor
a i lFRASER
s m a y n o t a d d to t o t a l s
1 and
from month
is b a s e d
intended
previous
to m o n t h .
@FedFRASER