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Not for L.4.2 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM My ,v & ,67 J toy DECONTROLLED j^TEB^SlX^ONTdS 15, 1967. DIRECT AUTO LOANS BY COMMERCIAL BANKS • <7 z y 5 ^ 2 ^*-^v March 1967 Three months ending March* 1967 | 1966" February 1967 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 27.9 6.5 64.3 1.3 30.0 6.4 62.6 1.0 29.2 6.5 63.5 29.8 6.5 63.4 0.3 21.3 13.1 34.0 31.6 19.7 12.9 35.8 31.6 18.5 12.2 36.2 33.1 88.8 86.1 0.8 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 19.8 12.9 35.9 31.4 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. X Not for publication L.4.2 -2- DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) March 1967 Three months ending March* February 1967 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 13.4 3.7 81.6 1.3 14.9 4.2 79.6 1.3 14.6 4.0 80.0 1.4 15.9 4.4 78.7 1.0 Contracts written for 36 months: Median loan/value ratio 93.0 93.6 USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 9.7 9.7 29.5 51.1 9.6 9.3 29.8 51.3 All used car contracts: Median loan/value ratio -Unweighted arithmetic mean of the three monthly ratios. 9.5 9.5 29.6 51.4 9.2 8.4 29.0 53.4 13k Not for publication -3- L.4.2 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS MARCH 1967 AND FEBRUARY 1967 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ 24 months less Mar. 1 Feb. Maturities 25 -30 31-:36 months months Mar. 1 Feb. Mar. I Feb. Over 36 months Mar. 1 Feb. Total Mar. 1 Feb. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 8.1 1.7 2.2 0.8 0.6 8.7 2.0 2.7 1.0 0.4 13.3 14.7 1.3 1.5 0.7 0.8 1.2 1.2 0.3 0.3 0.1 _0^3 3.6 4.1 ' 17.1 15.8 27.2 13.1 8.9 16.0 15.4 27.8 13.1 8.3 82.1 80.5 M 0.1 0.1 0.4 0.1 0.1 26.6 18.3 30.9 14.4 9.8 26.3 18.2 32.1 14.4 9.0 0.9 0.7 100.0 100.0 0.1 0.2 0.3 0.2 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 16.2 5.2 6.7 1.3 0.5 17.2 4.6 6.7 1.1 0.5 3.0 1.2 2.1 0.4 0.2 2.4 1.2 2.4 0.4 0.1 20.3 11.7 21.0 5.5 3.8 21.2 0.3 10.5 0 . 1 , . 21.6 0.2 5.7 0.1 3.3 _0J: 0.3 0.4 0.1 0.2 0.1 39.8 18.2 30.0 7.3 4.7 41.0 16.8 30.8 7.4 4.0 29.9 30.2 7.0 6.5 62.3 62.2 0.7 1.0 100.0 100.0 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 9.8 2.4 3.1 0.9 0.6 10.4 2.5 3.5 1.0 0.4 1.7 0.8 1:4 0.4 0.1 1.7 0.9 1.4 0.4 0.2 17.8 14.9 25.9 11.5 7.9 17.0 14.5 26.6 11.6 7.3 0.1 0.1 0.3 0.1 0.1 0.1 0.1 0.3 0.1 0.1 29.4 18.3 30.7 12.9 8.7 29.1 17.9 31.8 13.1 8.1 16.8 17.7 4.4 4.5 77.9 77.0 0.8 0.7 100.0 100.0 \f Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for March and February are derived from reports of 109 banks, 70 of which reported dealer cost ratios as well as maturities. The March maturity distribution for new cars shown on pages 1 and 2 is based on 36,000 contracts, 25,000 purchased and 11,000 direct. The cross-classification on this page is based on 20,000 contracts, 16,000 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. M3? or publication -4DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) MARCH 1967 AND FEBRUARY 1967 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ 12 months 13-18 months 19-24 Over 24 months months Mar.| Feb.I Mar.| Feb. Mar. | Feb? PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 3.2 1.2 1.5 0.8 2.3 3.8 1.4 1.5 0.9 2.2 1.5 1.5 0.9 2.6 8.9 9.8 8.7 2.1 1.6 1.7 1.0 4.5 4.9 6.6 4.0 8.6 5.0 4.3 7.1 4.2 7.9 5.9 5.6 9.1 8.4 11.3 12.1 9.5 9.9 18.1 17.1 15.7 16.8 20.9 15.1 31.5 16.5 15.7 22.3 16.0 29.5 8.8 28.5 28.4 53.8 53.0 100.0 100.0 8.2 5.8 7.9 3.6 5.5 35.4 17.6 23.8 8.3 14.9 35.3 16.8 25.7 8.2 14.0 _1A DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 10.4 3.2 3.6 0.8 10.8 3.5 4.2 1.1 J^3 Total 19.2 20.9 80% or less h.% to 90% to 100% 1J1% to 110% Over 110% 5.2 1.7 2.1 0.8 2.0 ' Total 11.7 5.6 2.1 3.7 1.0 1.8 5.2 2.2 3.8 0.8 11.5 6.3 9.3 3.4 _5^9 11.1 5.3 9.8 2.7 5.2 14.3 14.0 36.3 34.2 30.2 30.9 100.0 100.0 3.0 1.8 2.3 0.9 2.3 6.4 5.3 7.4 3.8 7.8 6.7 4.6 7.8 3.8 7.1 6 .4 6.3 8.3 7.6 10.1 10.9 7.7 8.1 14.9 13.8 21.1 17.0 21.7 13.2 27.0 21.7 16.0 23.3 13.8 25.2 10.2 10.2 30.6 30.0 47.4 46.8 100.0 3.1 5.7 2.0 1.7 2.3 • 2.1 1.0 0.9 1.9 2.3 12.9 7.9 6.0 7.1 3.0 6.1 100.0 ' 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 March and February are derived from reports of 109 banks, 66 of which reported dealer cost ratios as well as maturities. The March maturity distribution for used cars shown on pages 1 and 2 is based on 32,000 contracts, 22,000 purchased and 10,000 direct. The cross-classification on this page is based on 18,000 contracts, 13,000 purchased and 5,000 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 DigitizedDetails for FRASER because of rounding. , '1 j f,
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