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L IZL> t Not for publication BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM L.4.2 • T s > n " < March 27, 1967. <L\\ (Av=ur>\; I DIRECT AUTOj LOANS^BY COMMERCIAL BANKS January 1967 December 1966 Three months ending January* 1967 1966 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 30.2 6.6 63.0 0.2 31.7 6.7 61.3 0.3 31.6 6.6 30.2 6.9 61.6 62.7 0.2 0.2 Contracts written for 36 months: Median loan/value ratio 85.6 86.2 90.1 USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 18.6 12.6 18.8 17.8 18.1 12.8 12.6 36.6 32.2 13.3 36.8 31.1 37.0 32.4 36.0 33.3 87.0 89.1 89.4 89.1 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. Not for publication L.4.2 -2- DEALER A U T O LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 15.6 4.2 78.7 1.5 17.0 4.3 77.2 i^ 16.8 4.1 78.0 U 17.0 4.2 77.9 Q.9 93.3 92.8 92.7 93.5 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 . 9.1 9.6 29.3 52.0 9.2 8.8 29.8 52.2 9.2 9.2 29.7 51.9 9.1 8.7 29.3 52.9 98.2 96.4 96.7 97.3 A l l used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. Ml* Not for' publication -3- L.4.2 DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS JANUARY 1967 A N D DECEMBER 1966 NEW CARS (Percentage distribution of contracts) Maturities 31- 36 month s Jan. 1 Dec. 24 months or less Jan. I Dec. ?5 - 3 0 months Jan. IDec. 9.0 1.7 3.0 1.0 0.5 9.1 2.4 3.4 1.2 _0A 1.6 0.7 1.3 0.4 0.3 1.6 0.8 1.4 0.6 0.2 17.0 14.5 ' 26.0 13.9 8.7 16.7 15.7 24.8 13.5 7.8 0.1 0.1 0.2 0.1 Total 15.1 16.5 4.3 4.6 80.1 78.4 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 16.5 5.5 5.9 1.0 18.9 5.7 6.5 1.1 0.5 3.3 1.4 2.9 0.4 0.2 3.1 1.4 ; 3.0 0.6 0.2 24.2 12.1 16.5 4.9 4.3 21.1 13.1 15.9 5.6 2.8 Total 29.3 32.7 8.3 8.3 62.0 58.6 as percentage of Total J a n . 1 Dec. months Jan. I D e c . PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 0.2 0.1 0.1 27.7 17.0 30.4 15.4 9.5 27.5 18.9 29.8 15.3 8.5 0.5 0.5 100.0 100.0 0.3 * 0.2 0.1 0.3 44.3 19.0 25.4 6.3 5.0 43.3 20.1 25.8 7.3 3.5 0.4 0.4 100.0 100.0 31.1 17.4 29.4 13.5 8.6 31.0 19.2 28.9 13.5 7.4 100.0 100.0 0.1 D I R E C T LOANS TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 10.6 2.5 3.6 1.0 0.5 11.3 3.1 4.1 1.2 0.4 2.0 0.8 1.6 0.4 0.3 1.9 0.9 1.8 0.6 0^2 18.5 14.0 24.0 12.0 7.8 17.7 15.1 22.8 11.7 6.7 18.1 20.2 5.2 5.4 76.3 73.9 0.1 0.1 0.2 0.1 0.2 0.1 0.4 0.5 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 111 banks, 69 of which reported dealer cost ratios as well as maturities. The January maturity distribution for n e w cars shown on pages 1 and 2 is based on 29,000 contracts, 20,000 purchased and 9,000 direct. The cross-classification on this page is based on 15,000 contracts, 12,000 purchased and 3,000 direct. The data are not intended to be estimates for all commercial banks and are not comparable with previous releases composition of the group of banks changes Digitized for since FRASER Details may not add to totals because of rounding. from month to m o n t h . , Not for publication L.^.2 , H Vf -4DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) JANUARY 1967 A N D DECEMBER 1966 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ 12 months 13-18 less months Jan. I Dec. Jan. 1 Dec. Maturities Over 24 19-24 months months Jan. I Dec. Jan. | Dec. 1' Total Jan. I Dec. IK f' PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 3.3 1.1 1.3 1.0 3.6 1.1 1.6 0.8 LI 8.8 IA 2.7 1.5 1.6 1.2 2.6 2.1 1.6 1.9 0.9 2J, 8.8 9.7 8.6 12.8 12.6 2.1 2.1 4.6 4.4 1.2 1.0 1.6 1.7 7.3 1.7 3.8 0.9 1.4 5.4 1.9 3.8 1.0 2.2 16.9 •! 19.0 22.1 15.0 <r 27.0 5.2 4.5 6.2 4.2 5.5 4.9 6.8 3.9 6.8 5.7 8.3 11.3 11.1 11.9 9.4 9.4 17.9 15.7 18.1 15.4 20.2 15.8 30.5 28.1 28.6 53.4 54.0 100.0 100.0 9.0 3.2 7.4 2.9 5.1 41.9 11.6 25.2 9.2 12.1 39.3 11.8 26.5 8.4 14.0 36.1 27.1 27.6 100.0 100.0 7.4 6 .6 6.8 9.2 9.9 10.6 7.7 7.8 14.3 12.8 24.5 14.4 21.6 14.0 25.5 7 ' DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 22.3 21.8 15.0 14.4 12.2 12.7 4.5 5.1 9.9 . 10.9 3.5 3.4 4.3 5.1 35 .5 9.1 2.8 6.9 3.5 4.8 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 6.0 1.4 2.4 0.9 1.7 4.0 3.0 1.6 1.7 2.2 2.4 1.1 0.9 2.3 _ 2 ^ 2 7.3 4.7 7:2 4.0 7.0 7.3 4.8 7.9 3.8 6.9 12.4 12.3 11.1 10.2 30.2 30.6 5.9 1.3 2.2 1.0 1.9 46.2 46.9 100.0 V ? IOO.O NOTE: Distributions for January and December are derived from reports of 111 banks, 65 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 26,000 contracts, 18,000 purchased and 8,000 direct. The cross-classification on this page is based on 14,000 contracts, 10,000 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. because of rounding. Y. 22.9 17.1 .7 23.3 > 13.2 _23^5 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. Details may not add to totals *'?•
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