Fed Primary Credit Lending

Primary credit lending via the discount window, spikes in bank funding stress episodes like SVB March 2023.

Fed Primary Credit Lending is part of the Fed Balance Sheet Detail category. The Fed balance sheet and Treasury General Account together determine the volume of reserves circulating in the banking system. Nowcasts from Atlanta, New York, and Cleveland Fed staff provide real-time estimates of GDP and inflation, often weeks ahead of official releases. These operational metrics are what actually moves rates and reserves, as opposed to the policy statements that describe intent.

Fed Primary Credit Lending is updated weekly, typically on the same day each week. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.

Convex sources Fed Primary Credit Lending data from the Federal Reserve Economic Data (FRED) API, maintained by the Federal Reserve Bank of St. Louis. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.

The Fed Primary Credit Lending page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.