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C o o l m j / j C c m $ u # r t * ~ - .. BOARD Of GOVERNORS OF THE FEDERAL RESERVE SYSTEM L.4.2 "" ^ / March 16, 1970 DECONTROLLED AFTER SIX MONTHS DIRECT AUTO LOANS BY COMMERCIAL BANKS January 1970 December 1969 Three months ending January* 1970 1969 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 27.2 6.1 66.2 0.6 29.0 5.6 65.1 0.2 28.0 5.7 65.9 0.4 27.4 5.8 66.5 0.3 Contracts written for 36 months: Median loan/value ratio 86.7 81.5 USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 16T7 12.8 35.6 34.8 17.8 13.1 35.6 33.4 88.0 89.6 16.4 12.6 36.1 34.8 16.1 12.5 37.1 34.4 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. 84.1 L . 4 .2 -2DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) January 1970 Three months ending January* 1970 December 1969 NEW CAR CONTRACTS Per cent of contracts written for; 24 months or less 25-30 months 31-36 months Over 36 months 12.9 3.4 81.5 2.3 13.7 3.1 81.5 1.7 13.6 3.2 81.5 1.8 14.7 3.5 80.1 1.7 Contracts written for 36 months: Median loan/value ratio 92.4 USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 9.9 9.1 30.5 50.5 10.2 9.9 31.7 48.2 10.1 9.5 31.3 49.2 29.8 52.1 97.0 98.1 9.5 8.6 All used car contracts: Median loan/value ratio 97.7 ^Unweighted arithmetic mean of the three monthly ratios. Details may not add to totals because of rounding. •3- L.4.2 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS JANUARY 1970 AND DECEMBER 1969 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ 25-30 24 months or less months Jan. 1 Dec. Jan. 1 Dec. Maturities Over 36 31-36 months months Jan. 1 Dec. Jan. 1 Dec. Total Jan. 1 Dec. PURCHASED PAPER 80% or less 817. to 90% 91% to 100% 101% to 110% Over 110% Total 7.0 1.8 2.2 0.9 0.4 7.3 2.4 2.2 1.1 0.7 1.2 0.6 0.8 0.7 0.2 1.0 0.8 0.8 0.4 0.1 15.0 17.7 26.5 14.5 7.9 16.3 18.2 24.7 14.3 8.6 0.2 0.3 0.6 0.6 0.5 0.3 0.2 0.3 0.2 0.2 23.5 20.5 30.1 16.8 9.1 24.9 21.6 28.1 15.9 9.6 12.5 13.7 3.6 3.1 81.7 82.1 2.3 1.1 100.0 100.0 14.7 5.6 3.3 0.9 1.0 13.9 7.5 5.5 0.9 1.4 2.6 0.9 1.9 0.6 0.2 1.9 1.6 1.6 0.4 0.2 23.4 15.1 19.7 6.1 2.5 21.6 16.1 19.5 5.0 2.5 0.1 0.1 0.2 * * 0.1 0.1 0.1 0.7 40.8 21.7 25.1 7.6 4.3 37.4 25.3 26.7 6.4 4.1 25.5 29.2 6.3 5.8 67.0 64.7 1.2 0.4 100.0 100.0 0:2 . 27.7 22.4 27.8 13.8 8.3 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 8.7 2.6 2.5 0.9 0.5 8.9 3.5 3.0 1.0 0.8 1.5 0.7 1.0 0.7 0.2 1.2 1.0 1.0 0.4 0.1 16.8 17.2 25.0 12.7 6.7 17.4 17.6 23.5 12.2 7.3 0.2 0.2 0.5 0.5 0.6 0.2 0.3 0.1 0.1 27.2 20.7 29.0 14.9 8.0 15.3 17.3 4.2 3.7 78.5 78.0 2.1 1.0 100.0 100.0 1/Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for January and December are derived from reports of 104 banks, 54 of which reported dealer cost ratios as well as maturities. The January maturity distribution for new 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 12,000 contracts, 9,000 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. L.4.2 -4DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) JANUARY 1970 A N D DECEMBER 1969 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ 12 months or less Jan. I D e c . Maturities Over 24 19-24 months months Jan. I Dec. Jan. 1 Dec. 13-18 months Jan. 1 Dec. Total Jan. 1 Dec. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 3.6 1.3 2.0 1.4 1.8 3.4 1.5 1.8 1.4 2.0 2.1 1.7 1.7 1.2 2.4 2.0 1.5 1.9 1.6 2.6 10.1 10.1 9.1 9.7 5.5 5.3 6.8 4.8 8.0 5.0 5.5 7.0 5.5 8.1 5.4 7.3 12.9 9.4 15.3 5.5 7.6 11.3 10.2 14.1 16.5 15.6 23.4 16.8 27.6 15.9 16.2 22.0 id.8 26.8 30.5 .31.3 50.3 49.0 100.0 100.0 36.5 16.9 26.4 10.4 9.8 34.6 16.1 26.2 12.4 10.7 P DIRECT LOANS 9.0 4.6 8.7 3.3 3.6 9.5 2.4 3.5 1.3 1.2 10.1 2.4 3.6 1.6 1.6 4.9 2.5 2.6 1.7 1.1 4.9 1.6 3.1 1:6 1.4 13.1 7.4 11.7 3.9 3.9 11.2 6 .6 11.7 5.6 3.3 Total 17.9 19.2 12.8 12.5 40.1 38.5 29.3 29.8 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 5.1 1.6 2.4 1.4 1.6 5.2 1.7 2.3 1.4 1.9 2.8 1.9 1.9 1.3 2.0 2.8 1.5 2.2 1.6 2.3 7.5 5.9 8.1 4.6 6.9 6.7 5.8 8.4 5.6 6.8 6.4 6.5 11.7 7.7 12.1 6.3 7.1 10.3 8.4 11.6 21.8 15.9 24.1 15.0 22.7 21.0 16.2 23.2 17.1 22.6 12.2 12.6 10.1 10.5 33.1 33.3 44.6 43.7 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 8.5 5.5 7.8 3.6 . 4.4 TOTAL Total 1/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: Distributions for January and December are derived from reports of 104 banks, 52 of which reported dealer cost ratios as well as maturities. The January maturity distribution for used cars shown on pages 1 and 2 is based on 21,000 contracts, 14,000 purchased and 7,000 direct. The cross-classification on this page is based on 9,000 contracts, 7,000 purchased and 2,000 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