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How credit is holding up

C&I loan spread changes — small 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

-14.50 %

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 · -14.5

-35.7 — 66.1Chart range
2020Q4 · 10.62021Q1 · 13.22021Q2 · -16.42021Q3 · -35.72021Q4 · -25.42022Q1 · -31.12022Q2 · -102022Q3 · 12.72022Q4 · 25.42023Q1 · 32.82023Q2 · 58.32023Q3 · 66.12023Q4 · 44.62024Q1 · 34.52024Q2 · 202024Q3 · 52024Q4 · 5.12025Q1 · -8.22025Q2 · -6.62025Q3 · -3.42025Q4 · -6.82026Q1 · 02026Q2 · -8.22026Q3 · -14.5
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
2026Q3-14.5
2026Q2-8.2
2026Q10
2025Q4-6.8
2025Q3-3.4
2025Q2-6.6
2025Q1-8.2
2024Q45.1
2024Q35
2024Q220
2024Q134.5
2023Q444.6
2023Q366.1
2023Q258.3
2023Q132.8
2022Q425.4
2022Q312.7
2022Q2-10
2022Q1-31.1
2021Q4-25.4
2021Q3-35.7
2021Q2-16.4
2021Q113.2
2020Q410.6

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_SMALL

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