Form FR 2835 FR 2835 Quarterly Report of Interest Rates on Selected Direct Co

FR 2835
OMB No. 7100-0085
Avg. Hours per response 0.22
Approval expires June 30, 2009

QUARTERLY REPORT OF INTEREST RATES ON
SELECTED DIRECT CONSUMER INSTALLMENT LOANS
Made During the Week Ended __________________, ______
(month and day)
(year)

This report is authorized by law [12 U.S.C. §248(a)(2)]. Your voluntary cooperation in submitting this report is needed to make
the results comprehensive, accurate, and timely. The Federal Reserve does not regard the information in this report as
confidential.
The Federal Reserve may not conduct or sponsor, and an organization (or a person) is not required to respond to, a collection
of information unless it displays a currently valid OMB control number.

PLEASE READ THE INSTRUCTIONS BEFORE COMPLETING THIS FORM.
When there is no information to report for the current period, insert the word “none.”
Most Common Rate
(annual percentage rate)

Type of Direct Loan

1. New automobiles (48-month) ..............................................................................

7802

2. New automobiles (60-month) ..............................................................................

7332

3. Other loans for consumer goods and personal expenditures (24-month) ............

7808

Please print:
Please explain large fluctuations in reported data:

Name and address of respondent

Name of person to be contacted concerning this report

Telephone number (including area code and extension)
Please return one copy of this report within one week after the reporting week to:

FR 2835

Instructions for
Quarterly Report of Interest Rates on Selected Direct Consumer Installment Loans
Reporting Burden
Public reporting burden for this collection of information is estimated to
average 0.15 hour, including the time to gather and maintain data in the
required form and to review instructions and complete the information
collection. Send comments regarding this burden estimate or any other
aspect of this collection of information, including suggestions for reducing this burden, to: Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets, N.W., Washington, DC 20551; and to
the Office of Management and Budget, Paperwork Reduction Project
(7100-0085), Washington, DC 20503.

Purpose of Report
This report provides data needed to estimate changes in
interest rates on personal loans and loans to purchase automobiles.
Rates
The rates reported should be annual percentage rates
(APR) shown in the loan documents as specified by Regulation Z (Truth-in-Lending). Rates should be reported as
percentages to two decimal places. Fractions should be
shown as decimal equivalents. For example, 10 1/4 percent should be shown as 10.25, 10 percent as 10.00, and
10 1/2 percent as 10.50. The “most common rate” means
the rate at which the largest dollar volume of loans of a
particular type was made during the reporting week. For
variable rate loans made during the reporting week, the initial rate should be considered the rate charged in determining the most common rate for this report.
Types of Loans
The types of consumer loans listed on this form are intended
to represent common types of installment loans likely to
have rather standard characteristics among borrowers and
over periods of time.
For each type of consumer installment loan listed, please
report the required information only for loans made directly
to customers and closed during the week indicated on the
form. For the purpose of this report, “loans closed” means
formal loan agreements reached and/or notes signed, either new or renewals, regardless of whether any funds actually were disbursed during the week specified.
Exclude from this report the following types of loans:
1. all loans secured by real estate, whether first or junior
liens, and all loans purchased from dealers, other banks,
or other sources;

2. loans to special categories of borrowers such as employees;
3. “floor plan” loans or other wholesale financing;
4. mobile home loans to individuals for new or used mobile homes, without regard to whether the loan is collateralized by the mobile home; and, loans to purchase
mobile homes for business or professional purposes;
5. loans to purchase motorcycles, travel trailers, campers, recreational vehicles (RVs), and other similar vehicles for personal use;
6. all home improvement loans;
7. credit arising from retail credit card plans actually carried on the bank’s books;
8. lease loans secured by commercial vehicles, taxicabs,
and farm equipment; other loans for business or professional purposes; and loans to farmers;
9. credit to individuals arising from so-called bank-check
credit, special overdraft plans, or other bank revolving
credit plans; finance charges that do not recur each
month, cash advances, and overdrafts on check-credit
plans.
1. New Automobiles (48-month).
Include only 48-month (original maturity) loans to individuals for new automobiles and light trucks for personal use,
such as pickup trucks, vans, minivans, and sport-utility vehicles, without regard to whether the loan is collateralized
by the vehicle.
2. New Automobiles (60-month).
Include only 60-month (original maturity) loans to individuals for new automobiles and light trucks for personal use,
such as pickup trucks, vans, minivans, and sport-utility vehicles, without regard to whether the loan is collateralized
by the vehicle.
3. Other Loans for Consumer Goods and Personal
Expenditures.
Include 24-month (original maturity) loans to individuals for
goods other than automobiles and light trucks for personal
use, whether or not the purchased item is used for collateral. Also include personal cash loans, whether secured or
unsecured, made for household, family, and other personal
expenditures. These loans are used for a variety of purposes such as consolidation of debts, medical attention,
taxes, vacations, and general personal and family expenditures, including student loans currently being repaid.