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loaJJ-tuLC B O A R D OF GOVERNORS OF THE F E D E R A L R E S E R V E SYSTEM" September 15, 1970 DIRECT AUTO LOANS BY COMMERCIAL B A N K S July 1970 Juqe 1970 Three months ending July* 1969 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 25.1 5.8 68.5 0.5 26.0 25.7 6.4 67.3 0.3 67.7 0.3 6.2 24.2 5.8 69.5 0.4 Contracts written for 36 months: Median loan/value ratio 87.3 86.9 USED CAR CONTRA TS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 17.1 13.3 35.2 34.3 17.3 13 .6 34.7 34.4 16.5 13.5 35.1 34.9 87.3 87.4 87.5 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. 15.4 13.3 35.6 35.7 L.4.2 -2DEALER A U T O L O A N S B Y C O M M E R C I A L B A N K S (PURCHASED PAPER) Three months ending July* 1970 | 1969~ July 1970 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 12.6 2.7 83.3 1.3 13.2 2.8 83.0 1.0 12.7 2.9 83.3 1.1 12.3 2.8 83.5 1.5 91.8 91.2 92.0 92.5 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 11.6 11.1 30.5 46.8 11.1 10.0 30.5 48.4 10.8 10.2 30.2 48.8 9.6 8.7 30.2 51.5 97.7 98.0 98.6 100.1 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. L.4.2 DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS JULY 1970 A N D JUNE 1970 ' NEW C A R S — (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ 24 months 25-30 or less" months July | June July | June Maturities 31-36 Over 36 months months July | June July| June Total July I June PURCHASED PAPER 1 j | 1 ; 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 7.5 2.0 2.1 1.2 0.8 8.3 2.1 1.7 0.9 0.7 *0.9 0.8 0.7 0.3 0.1 1.1 0.8 0.8 0.4 0.1 18.0 19.1 22.5 13.8 8.9 18.5 19.7 21.9 13.2 8.5 0.2 0.1 0.6 0.2 0.2 0.1 0.2 0.5 0l 2' 0.2 26.6 22.0^ 25.9 "15.4 10.0 Total 13.5 13.8 2.8 3.2 82.3 81.8 1..4 1.2 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 11.9 6.5 4.2 1.0 ' 0.9 12.0 7.1 3.8 1.2 1.1 3.1 1.5 .1.2 0.7 0.1 2.8 2.0 1.5 1.0 0.3 21.1 17.5 19.9 5.1 2.5 21.3 17.6 19.9 5.0 2.4 0.3 0.1 0.2 0.2 * 0.1 0.1 36.4 25 .6 25.5 6.8 3.5 36.3 26.7 25.4 7.3 3.9 25.0 25.3 6.7 7.7 67.6 66 .5 0.7 0..5 100.0 100.0 j f 28.1 22.8 24.9 1417 9.5 DIRECT LOANS - Total * * TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 8.6 3.1 2.6 1.1 0.8 9.3 3.4 2.3 1.0 0.8 1.5 0.9 0.9 0.4 0.1 1.6 1.1 1.0' 0.5 0.2 18.8 18.7 21.8 11.6 7.3 19.2 19.2 21.3 11.0 6.9 0.3 0.2 29.1 30.3 22.9 23.8 0.1 0.1 25.8 25.0 0.5 0.4 o.&_ J.....- 1 3 . 3 „ „ ....12.7 0.2 0.2 8.4 8.0 16.4 16.8 3.8 4.4 78.6 77.7 1.2 1.0 100.0 100.0 1,/Contract balance excludes finance arid insurance charges. * Less than one-tenth of one per cent. banks, NOTE: Distributions for July and June are derived from reports of 99 52 of which reported dealer cost ratios as well as maturities. The July maturity distribution for new cars shown on pages 1 and 2 is based on 33,000 contracts, 22,000 purchased and 11,000 direct. The cross-classification on this page is based on 15,000 contracts, 11,000 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. L.4.2 ^9 -4DEALER C O S T RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT L O A N S (continued) JULY 1970 A N D JUNE 1970 (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ 12 months or less July|June 13-18 months July| June Maturities 19-24 Over 24 months months July| June July| June Total July | June PURCHASED PAPER 3.9 2.2 3.1 1.0 2.1 3.5 1.9 2.8 1.0 2.5 2.2 1,8 1.9 1.5 3.3 2.4 1.5 1.9 1.7 3.1 5.9 5 .5 6.0 4.7 8.2 5.0 6.1 5.5 5.2 8.1 Total 12.4 11.7 10.7 10.6 30.4 29.9 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 7.6 4.1 3.0 1.9 3.2 9.3 3.5 3.6 1.4 2.9 4.6 2.3 3.8 0.9 1.1 4.8 3.1 3.8 1.2 1.1 13.4 7.7 10.4 3.6 3.4 19.9 20.7 12.7 14.0 38.4 TOTAL - 5.0 2.8 3.1 1.3 2.4 5.3 2.4 3.0 1.1 2.6 2.9 1.9 2.5 1.3 2.6 3.1 2.0 2.4 1.6 2.5 8.1 6.2 7.3 4.4 6.8 7.1 7.0 7.1 4.7 6.2 14.6 14.4 11.3 11.6 32.7 32.1 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 5 .6 6.5 10.3 9.6 14.5 6.2 7.9 9.2 8.6 16.0 17.6 16.0 21.4 16.9 28.1 17.0 17.5 19.4 16.5 29.7 46.5 47.8 100.0 100.0 11.9 9.1 10.8 3.6 1.8 9.5 6.1 7.8 3.0 2.6 8.0 5.8 7.7 4.0 2.5 35.2 20.2 24.9 9.4 10.3 34.0 21.6 25.9 10.3 8.3 37.2 28.9 28.1 100.0 100.0 6.7 6 .4 9.6 7.7 11.0 6.7 7.3 8.8 7.2 11.9 22.8 17.3 22.4 14.7 22.9 22.2 18.7 21.3 14 .6 23.2 41.3 41.8 100.0 100.0 DIRECT LOANS Total 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total JVContract 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 July ai^d June are derived from reports of 99 banks, 48 of which reported dealer cost ratios as well as maturities. The July maturity distribution for used cars shown on pages 1 and 2 is based on 23,000 contracts, 15,000 purchased and 8,000 direct. The cross-classification on this page is based on 9,000 contracts, 6,000 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.
@FedFRASER