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How credit is holding up

C&I loan spread changes — large and medium firms

Lending conditions and realized bank losses. Positive survey standards mean net tightening; positive demand means net strengthening. Neither is a corporate-bond default rate.

Latest collected observation

-26.80 %

Observation period: 2026Q3

At collection: current

Last collection · 28 Sep 2026, 12:00 UTC

These are dated observations. This page does not stream live market data.

Since the previous collection

The displayed value and observation period are unchanged from the collection on 2026-09-27.

A new period advances the comparison window. A revision changes an existing period.

Source history

net percent of responding domestic banks

2026Q3 · -26.8

-44.6 — 68.3Chart range
2020Q4 · 13.22021Q1 · -1.42021Q2 · -30.62021Q3 · -44.62021Q4 · -36.92022Q1 · -40.92022Q2 · -9.42022Q3 · 12.12022Q4 · 30.22023Q1 · 44.82023Q2 · 62.32023Q3 · 68.32023Q4 · 502024Q1 · 30.62024Q2 · 14.32024Q3 · -3.32024Q4 · -3.22025Q1 · -9.42025Q2 · -4.82025Q3 · -9.52025Q4 · -16.42026Q1 · -14.32026Q2 · -12.92026Q3 · -26.8
2020Q42026Q3

Latest 24 source observations in this collection. Points are spaced by observation, not elapsed time. Missing values remain gaps. History may include revisions; it does not recreate what was known at each date.

Inspect the exact values
Source values · net percent of responding domestic banks
PeriodValue
2026Q3-26.8
2026Q2-12.9
2026Q1-14.3
2025Q4-16.4
2025Q3-9.5
2025Q2-4.8
2025Q1-9.4
2024Q4-3.2
2024Q3-3.3
2024Q214.3
2024Q130.6
2023Q450
2023Q368.3
2023Q262.3
2023Q144.8
2022Q430.2
2022Q312.1
2022Q2-9.4
2022Q1-40.9
2021Q4-36.9
2021Q3-44.6
2021Q2-30.6
2021Q1-1.4
2020Q413.2

Behind this number

Board of Governors of the Federal Reserve System

Open the source →
Source unit
net percent of responding domestic banks
Collected
2026-09-28 12:00:03.058 UTC
Source release / update
2026-08-03
Instrument
US_SLOOS_SPREADS_LARGE

Survey quarters and bank reporting quarters differ. Charge-offs are annualized and net of recoveries; delinquency rates are not annualized.