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toQMjD) QffMLUVUUU BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM X V ) 6+odUtuuCt L.4.2 July 14, 1969 ll5;-;.n.BIRECT iuTO LOANS BY COMMERCIAL BANKS DECONTROLLED May 1969 April 1969 Three months ending May* 1969 1968 T NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 24.9 5.8 68.7 0.5 25.1 5.1 69.3 0.4 25.3 5.5 68.8 0.5 87.4 86.8 26.9 5.8 66.9 0.4 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 15.4 12.8 35.9 35.9 17.0 13.0 34.9 35.1 16.4 12.9 35.5 35.1 15.9 12.7 37.7 33.7 91.4 92.1 91.4 88.7 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. Details may not add to totals because of rounding. -53? L.4.2 -2DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) Three months ending May* 1969 1 1968 May 1969 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 13.0 2.8 82.7 1.5 . 12.8 3.0 82.6 1.6 13.1 2.9 82.3 1.6 14.1 3.4 80.8 1.7 92.1 91.9 92.4 92.5 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 9.4 8.5 30.1 52.1 9.6 8.5 30.9 50.9 9.4 8.8 30.0 51.7 8.6 8.5 30.3 52.6 99.8 99.3 99.6 98.3 All used car contracts: Median loan/value ratio -Unweighted arithmetic mean of the three monthly ratios. Details may not add to totals because of rounding. Tio L.4.2 -3DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS MAY 1969 AND APRIL 1969 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ Maturities 31-36 Over 36 months months May 1 Apr. May 1 Apr. 24 months or less May 1 Apr. 25-30 months May lApr. 7.5 1.9 1.7 1.1 0.7 7.9 1.7 1.7 0.9 0.6 1.3 0.7 0.6 0.3 0.2 1.3 0.3 0.6 0.3 0.2 19.2 17.1 24.3 13.8 8.3 19.1 17.8 24.2 13.3 8.8 0.1 0.2 0.4 0.3 0.3 0.1 0.1 0.5 0.2 0.3 28.0 19.9 27.0 15.5 9.6 28.4 19.9 27.0 14.7 9.9 Total 13.0 12.9 3.1 2.7 82.6 83.1 1.3 1.2 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 13.1 7.2 3.9 0.6 0.4 14.0 7.5 3.6 0.9 0.7 2.5 1.9 1.5 0.3 0.5 2.0 1.4 1.1 0.3 0.2 20.5 17.5 19.9 5.5 21.1 17.1 20.2 5.1 3.5 0.2 0.1 0.1 0.1 0.2 0.4 0.1 0.1 0.2 36.3 26.7 25.4 6.5 4.6 37.7 26»1 24.9 6.4 4.6 Total 25.4 26.7 6.8 5.1 67.1 67.3 0.7 0.9 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 8.8 3.1 2.2 1.0 0.7 9.2 3.0 2.1 0.9 0.6 1.6 1.0 0.8 0.3 0.3 1.5 0.6 0.7 0.3 0.2 19.5 17.2 23.3 11.9 7.2 19.5 17.6 23.3 11.5 7.7 0.1 0.2 0.4' 0.2 0.3 0.2 0.1 0.4 " 0.2 0.3 29.9 21.4 26.6 13.4 8.5 30.4 21.2 26.5 12.9 8.8 15.8 15.9 3.9 3.3 79.1 79.7 1.2 1.2 100.0 100.0 Total May 1 Apr. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% DIRECT LOANS 3 5 *, T^OTAL Total 1/Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for May and April are derived from reports of 105 banks, 55 of which reported dealer cost ratios as well as maturities. The May maturity distribution for new cars shown on pages 1 and 2 is based on 41,000 contracts, 28,000 purchased and 13,000 direct. The cross-classification on this page is based on 19,000 contracts, 15,000 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. 5M/ L.4.2 -4DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) MAY 1969 AND APRIL 1969 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ 12 months 13-18 19-24 Over 24 or less months months months May | Apr. May | Apr. May | Apr. May | Apr. Total May I Apr. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 3.4 1.2 1.7 1.4 2.6 4.0 1.1 1.5 1.2 2.3 2.2 1.1 1.7 1.1 2.7 2.0 0.9 1.6 1.2 2.5 5.4 5.1 5.8 4.6 9.8 5.1 4.8 6.3 4.9 9.6 5.6 6.0 11.1 10.0 17.6 6.0 6.2 11.9 9.4 17.4 16.6 13.5 20.3 17.0 32.6 17.1 13.1 21.3 16.7 31.8 Total 10.3 10.1 8.7 8.3 30.6 30.7 50.4 50.9 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 7.6 2.2 4.6 1.6 1.5 8.6 2.8 3.7 2.1 1.4 4.7 2.1 3.6 2.0 2.0 3.5 2.9 4.4 1.4 2.0 12.4 6.8 11.4 4.3 5.6 8.8 7.6 11.2 4.1 5.6 7.7 4.3 7.7 3.4 4.5 7.9 4.3 8.3 4.4 5.2 32.4 15.4 27.3 11.3 13.6 28.7 17.6 27.5 12.0 14.1 17.5 18.5 14.3 14.1 40.5 37.2 27.6 30.1 100.0 100.0 DIRECT LOANS Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 4.4 1.4 2.4 1.4 2.3 5.1 1.5 2.0 1.4 2.1 2.8 1.3 2.1 1.3 2.5 2.3 1.4 2.3 1.3 2.4 7.1 5.5 7.1 4.5 8.8 6.0 5.5 7.4 4.7 8.6 6.1 5.6 10.3 8.4 14.4 6.5 5.8 11.0 8.2 14.5 20.4 13.9 22.0 15.7 28.0 19.9 14.2 22.7 15.6 27.6 12.1 12.1 10.1 9.7 33.0 32.2 44.9 46.0 100.0 100.0 1/Contract balance excludes fxnance and insurance charges. ^/Wholesale value represents "average wholesale," 'as is," or "buying value" as indicated by used car guides. NOTE: Distributions for May and April are derived from reports of 105 banks, 51 of which reported dealer cost ratios as well as maturities. The May maturity distribution for used cars shown on pages 1 and 2 is based on 30,000 contracts, 20,000 purchased and 10,000 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 al4r~~cbmmercial 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.
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