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^ J&QARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DECOHTBV® W W U O B H S a 1 3 1 ^1 , A ™° w L0AtiS B Y ' COMMERCIAL BANKS March ' 1971 February 1971 " " Three months ending March* 1971 1 1970 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 26.8 6.1 66.4 0.7 28.3 6.9 64.2 0.6 27.6 7.0 64.8 0.7 27.1 6.2 66.2 0.5 Contracts written for 36 months: 89.4 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 17.7 12.8 34.4 35.1 18.4 13.4 35.0 33.2 18.4 13.2 34.8 33.6 87.7 89.3 88.9 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. 16.1 12.5 35.3 36.1 L.4.2 -2DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) Three months ending March* March 1971 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 12.8 2.9 82.3 2.0 12.7 3.3 82.0 2.0 12.9 3.2 82.0 1.9 13.0 3.4 81.8 1.8 93.5 93.2 93.2 92.8 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 13.6 11.7 28.6 46.2 15.7 11.8 27.3 45.2 15.1 11.7 28.0 45.2 10.2 9.6 30.0 50.1 97.2 96.8 97.0 98.2 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. DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS MARCH 1971 AND FEBRUARY 1971 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ Maturities 24 months 25-30 31-36 Over 36 Total or less months months months Mar. 1 Feb. Mar. 1 Feb. Mar. 1 Feb. Mar. 1 Feb. , Mar. 1 Feb. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 7.1 2.8 1.6 1.0 0.7 6.8 2.0 2.2 1.4 0.8 0.9 0.7 0.7 0.5 0.2 1.1 0.9 0.8 0.6 0.2 16.4 16.0 25.7 16.2 8.3 15.6 17.6 24.1 15.9 8.3 0.1 0.2 0.6 0.3 0.1 0.2 0.1 0.7 0.3 0.2 23.6 20.7 27.8 18.3 9.5 13.1 13.2 2.9 3.6 82.6 81.6 1.4 1.6 . 100.0 100.0 24.5 19.7 28.6 18.0 • 9.3 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 11.4 12.1 5.6 5.6 ' 4.2 5.1 0.4 0.9 1.3 1.4 25.5 26.9 2.1 1.5 1.1 0.2 0.3 3.5 1.2 1.1 1.2 0.2 19.9 17.5 17.0 4.3 2.3 17.2 16.0 18.2 4.7 3.0 0.6 0.2 0.1 0.1 0.1 0.3 0.3 0.3 34.1 -24.9 22.3 5.0 4.0 33.1 23.1 24 6.8 4.6 5.8 7.7 67.6 64.5 1.1 1.0 100.0 100.0 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 8.2 3.5 2.2 0.8 0.8 8.2 3.0 3.0 1.3 1.0 16.3 16.9 1.2 0.9 0.8 0.4 0.2 1.7 1.0 0.9 0.7 0.2 17.3 16.4 23.5 13.2 6.8 16.0 17.2 22.6 13.0 6.9 0.3 0.2 0.5 0.2 0.1 0.2 0.2 0.6 0.3 0.1 26.9 21.0 27.0 14.7 7.9 26.1 21.a 27.0 15.3 8.2 3.6^ 4.7 78.8 77.0 1.3 1.4 100.0 100.0 1/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 104 banks, 54 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 38,000 contracts, 25,000 purchased and 13,000 direct. The cross--classification on this page is based on 19,000 contracts, 14,000 purchased and 5,000 direct. The data are not intended to be estimates for all commercial banks and are npt 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 AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) € MWRCH 1971 AND FEBRUARY 1971 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ Maturities 12 months 13-18 Over 24 19-24 or less months months months Mar. 1 Feb. Mar. 1 Feb. Mar. 1 Feb. Mar. 1 Feb. Total Mar. 1 Feb. 17.1 15.8 23.8 18.3 25.0 17.6 15.3 25.2 18.0 23.8 PURCHASED PAPER 80% or less 817. to 90% 917. to 1007. 1017. to 1107. Over 110% Total 3.4 1.4 1.6 1.3 1.7 4.3 1.3 6.3 1.3 1.7 2.4 1.3 1.4 -1.4 2.2 2.3 1.8 1.9 1.7 2.6 4.9 5.1 7.7 4.9 6.8 4.7 4.5 •5.9 4.2 6.5 6.3 6.4 8.1 7.7 13.1 11.1 10.7 10.8 14.3 13.0 9.3 14.8 8.7 10.4 29.4 25.8 52.6 49.0 100.0 100.0 33.5 17.8 29.0- DIRECT LOANS 807= or less 817. to 907. 917. to 100% 101% to 110% Over 1107. 8.5 2.1 3.2 0.7 0.5 8.5 3.7 4.1 1.0 2.1 4.7 2.6 3.2 0.7 0.9 5.0 1.9 4.0 0.9 2.0 12.5 7.5 11.7 2.9 3.6 11.9 7.0 12.0 2.2 4.8 10.7 5.4 9.9 4.3 4.3 8.2 5.3 8.8 3.7 3.1 36.4 17.7 28.1 8.6 9.3 Total 15.0 19.4 12.1 13.7 38.2 37.8 34.6 29.1 100.0 100.0 , 5.1 1.6 2.1 1.1 1.3 5.7 2.1 5.6 1.2 1.8 3.2 1.7 2.0 1.2 1.8 3.2 1.8 2.6 1.4 2.4 7.4 5.9 9.0 4.2 5.7 7.1 5.4 8.0 3.5 5.9 7.8 7.3 12.0 8.6 11.0 7.0 6.9 10.3 8.4 9.7 23.4 16.4 25.2 15.1 19.9 23.016.2,26.5" 14.5$ 19.6; 11.2 16.4 9.9 11.5 32.3 29.9 46.7 42.2 100.0 ioo. a# 7.7 12.0/ TOTAL 80% or less 81% to 90% 917. to 100% 1017. to 1107. ' Over 1107. Total 1/Contract balance excludes finance and insurance charges. ^/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 104 banks, 50 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 30,000 contracts, 19,000 purchased and 11,000 direct. The cross-classification on this page is based on 12,000 contracts, 8,000 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.
@FedFRASER