Fr 2835

INSTRUCTIONS FOR PREPARATION OF

Quarterly Report of Interest Rates on Selected
Direct Consumer Installment Loans
FR 2835

General Instructions
Purpose of Report
This report provides data needed to estimate changes in
interest rates on personal loans and loans to purchase
automobiles.

(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;

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:
FR 2835
General Instructions March 2012

(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 bankcheck 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 sportutility vehicles, without regard to whether the loan is
collateralized by the vehicle.
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General Instructions

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 sportutility vehicles, without regard to whether the loan is
collateralized by the vehicle.

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.

3. New Automobiles (72-month).
Include only 72-month (original maturity) loans to individuals for new automobiles and light trucks for personal
use, such as pickup trucks, vans, minivans, and sportutility vehicles, without regard to whether the loan is
collateralized by the vehicle.
4. 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

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FR 2835
General Instructions June 2015