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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM L.4.2 June 19, 1968 DECONTR( ;c IMR5gT'*AUT0 LOANS BY COMMERCIAL BANKS April 1968 March 1968 Three months ending April* 1968 I 1967 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 27.2 5.6 66.5 0.7 66.4 0.4 85.3 81.2 27.0 6.2 27.1 5.8 66.6 0.5 28.8 6.3 63.8 1.1 Contracts written for 36 months: Median loan/value.ratio 86.6 USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 16.0 13.0 37.3 33.7 16.3 12.4 36.8 34.5 16.2 12.8 37.0 34.0 20.1 12.9 35.7 31.3 All used car contracts: Median loan/value ratio ^Unweighted arithmetic mean of the three monthly, ratios. 86.3 L.4.2 -2PEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) April 1968 Three months ending April* 1968 1 1967" March 1968 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 14.2 3.2 80.5 2.1 13.9 3.6 81.0 1.5 13.9 3.4 81.0 1.7 14.2 3.9 80.7 1.2 92.5 93.1 92.9 92.9 8.5 9.4 9.4 30.1 51.1 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 8.7 8.8 29.9 52.6 8.7 8.5 29.4 53.4 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. 8.6 29.4 53.5 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS APRIL 1968 AND MIRCH 1968 NEW CARS (Percentage distribution of contracts) i Contract balance Fs percentage of dealer cost 1/ 24 months 25-30 or less months Apr. 1 Mar. Apr. Mar. Maturities Over 36 31-36 months months Apr. IMar. Apr. I Mar. Total Apr. 1 Mar. PURCHASED : PAPER 80% or less 01% to 90% 91% to 100% 101% to 110% Over 110% 8 .5 7 .8 1 .5 1 .5 2 .3 2 .0 0 .7 0 .7 _0 •J. _0 .5 1.3 0.4 1.0 0.3 0.2 1.4 0.6 0\9 0.4 0.3 18.5 15.5 26.8 12.4 8.1 81 .4 82 .5 2.1 17 .4 15 .4 27 .8 12 .9 8 .8 0.5 0.2 0.8 0.3 OA Total 13 .4 12 .8 3 .1 3 .5 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 14 .7 6 .8 3 .7 0 .5 0 .5 16 .2 4 .2 4 .0 0 .5 0 .6 2 .8 1 .3 1 .9 0 .2 0 .2 3 .9 1 .1 1,.6 0,.3 0,.2 23 .3 32 .4 0.5 18 .6 9 .8 0.1 17 .2 17,.1 0.2 4 .1 3,.5 0.1 2 .8 4,.1 0.4 Total 26 .3 25..6 6 .3 7..0 66,.1 67.,1 1.3 &0% or less 91% to 90% bl% to 100% 101% to 110% Over 110% 10,.3 3.,0 2.,5 0. 6 0.,7 10,.3 2.,3 2.,8 0. 7 0._5 1,.7 0,.7 1..2 0..2 0.,2 2..1 0.,7 1. 1 0. 3 0. 2 19..9 16,,4 23.,9 10.,0 6.,5 17. 2 16. 6 4.,1 4. 5 76. 8 77. 9 1.9 0.1 0.1 0.5 0.3 0.1 28.8 17.5 30.5 13.7 9.5 26.8 17.6 31.6 14.4 9.6 1.2 100.0 100.0 41.2 26.8 23.1 4.9 4.0 52.6 15.2 22.8 4.5 4.9 0.3 100.0 100.0 0.1 0.1 0.4 0.3 0.1 32.5 20.3 28.3 11.1 7.8 34.3 16.9 29.0 11.5 1.0 100.0 100.0 DIRECT LOANS 0.1 0.1 TOTAL Total 21.8 13.8 24.7 10.2 7.4 0.5 0.2 0.6 0.2 OA ^/Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for April and March are derived from reports of 112 banks, 73 of which reported dealer cost ratios as well as maturities. The April maturitydistribution for new cars shown on pages 1 and 2 is based on 43,000 contracts, 29,000 purchased and 14,000 direct. The cross-classification on this page is based on 23,000 contracts, 16,000 purchased and 7,000 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. I Details may not add to totals because of rounding. L.4.2 -4- | DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) i /, APRIL 1968 AND MARCH 1968 | USED CARS I, (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ 12 months or less Apr. 1 Mar. 13-18 months Apr. Mar. Maturities Over 24 19-24 months months Apr. 1 Mar. Apr. I Mar. Total Apr. 1 Mar '! 1 PURCHASED PAPER 80% or less 817, to 90% . 91% to 100% 101% to 110% Over 110% 3.4 1.0 1.4 0.8 2.5 3.6 1.0 1.3 1.0 2.4 2 .0 1 .1 1 .5 0 .9 3 .2 2.0 1.3 1.7 1.2 2.5 4.9 5.1 6.5 4.2 9.3 4.7 4.8 6.3 3.9 10.0 5.2 5 .5 7.3 7 .5 11.3 12 .6 9.1 8 .7 19.2 17 .9 15 .5 14 .5 20 .7 15 .0 34 .3 Total 9.1 9.3 8 .8 8.8 30.0 29.7 52.1 52 .2 100 .0 15 .8 14 .7 a. 21 .9 14 .8 32 J3 100 .0 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 9.0 1.7 4.3 0.9 1.9 9.7 1.6 3.7 0.9 1.4 6 .0 1 .7 4 .4 0 .9 1,.9 5.6 13.6 1.4 4.2 4.0 10.5 0.9 2.9 1.6 13.9 4.2 11.3 3.1 4.3 10.6 11 .1 3.1 2.9 8.4 9 .0 3.7 3 .6 5.3 5. 39 .2 10 .7 27 .5 8 .4 14, 17.8 17.2 14..9 13.5 36.3 36.8 31.0 32..5 100..0 7.7 4.8 7.8 3.8 8.0 7.7 4.6 7.9 3.6 8.2 6.9 7.3 6.0 6. 1 10.4 11.4 7.3 7. 1 14.8 14.0 23. 0 13. 3 22. 9 12. 9 27. 9 10.3 32.0 32.0 45.4 45. 9 100.0 .2. .9_ Total 5.5 1.2 2.1 1.0 2.0 3. 3 1. 3 2.4 0. 9 2. 8 11.9 11.8 10. 7 5.1 1.2 2.3 0.9 2.3 3.2 1.4 2.5 1.1 2.2 i B K 40 .3 10 .2 g 28 .0 8..4 13.J. & K 100.,0 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% & 1 V 1 23. 7 13. 2 23. 9 12. 7 26.5 l. 100. 0 ' ^/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: Distribution for April and March are derived from reports of 112 banks, 69 of which reported dealer cost ratios as well as maturities. The April maturity distribution for used cars shown on pages 1 and 2 is based on 34,000 contracts, 23,000 purchased and 11,000 direct. The cross-classification on this page is based on 18,000 contracts, 12,000 purchased and 6,000 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. may not add to totals Digitized Details for FRASER because of rounding. | 'f \ !
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