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CONKLING KOPCIKECONOMICS
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Financial Services & Capital Markets

Chicago Fed National Financial Conditions Index — Weekly

A weekly summary of U.S. money markets, debt and equity markets and the banking system: positive values are tighter financial conditions than average, negative values looser.

Data status: Current
Official statisticSource figures as of October 16, 2026Sources & methods
Sources
Federal Reserve Bank of Chicago, via FRED
Period covered
Jan 8, 1971 – Oct 9, 2026
Source figures as of
October 16, 2026
Geography
United States
Sector
Financial Services & Capital Markets
Seasonal adjustment
Not applicable
Transformations
Views other than the level (changes, averages, volatility) are calculated by CK Economics from these figures
Revisions
Re-estimated by the publisher over its whole history with each release, so past values move a little every time; the site shows the latest estimate and does not log these moves as revisions.
Data status
Current

Full method · Research standards

Key figures

CK estimateIndex (average = 0, standard deviation = 1) · calculated by CK Economics from Federal Reserve Bank of Chicago data

Latest · Oct 9, 2026
−0.5
0.0 sd vs a year earlier1
5-year change
+0.2 sd
since Oct 8, 20212
10-year change
−0.2 sd
since Oct 7, 20162
Record high
5.22
Jul 19, 19743
Record low
−1.1
Aug 13, 19933
Where the latest ranks
39th pct.
Higher than 39% of the other 2,909 observations since Jan 8, 19714
  1. 1Latest observation against the observation one year earlier (for weekly data, the nearest within three days).
  2. 2Latest observation against the observation five and ten years earlier.
  3. 3Highest and lowest published observations across the full history shown.
  4. 4Share of the other published observations that are lower than the latest one, rounded down.

Methodology

The NFCI is a weighted average of 105 measures of risk, credit and leverage in U.S. money markets, debt and equity markets and the traditional and shadow banking systems, estimated by the Federal Reserve Bank of Chicago with a dynamic factor model. It is scaled to an average of zero and a standard deviation of one since 1971: positive values mean tighter-than-average financial conditions, negative values looser. Each week is dated by the Friday it ends on. The Chicago Fed re-estimates the index over its whole history every week, so past values move slightly each time; the site shows the latest estimate and does not log those weekly re-estimates as revisions. Values are read from FRED's copy of the series, which FRED marks as copyrighted with citation required: Source: Federal Reserve Bank of Chicago via FRED.

How we collect, check and project every dataset →

Source

Federal Reserve Bank of Chicago, Chicago Fed National Financial Conditions Index (NFCI), via FRED, Federal Reserve Bank of St. Louis: https://fred.stlouisfed.org/series/NFCI and https://www.chicagofed.org/research/data/nfci/current-data — figures as published on 16 October 2026.

All data

2,910 observations, newest first · Index (average = 0, standard deviation = 1)

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PeriodValueChange y/y
Oct 9, 2026−0.5+0.02 sd
Oct 2, 2026−0.51+0.02 sd
Sep 25, 2026−0.52+0.01 sd
Sep 18, 2026−0.530 sd
Sep 11, 2026−0.54−0.01 sd
Sep 4, 2026−0.54−0.02 sd
Aug 28, 2026−0.55−0.02 sd
Aug 21, 2026−0.55−0.03 sd
Aug 14, 2026−0.55−0.02 sd
Aug 7, 2026−0.54−0.02 sd
Jul 31, 2026−0.54−0.02 sd
Jul 24, 2026−0.53−0.02 sd
Jul 17, 2026−0.53−0.02 sd
Jul 10, 2026−0.52−0.02 sd
Jul 3, 2026−0.52−0.02 sd
Jun 26, 2026−0.51−0.02 sd
Jun 19, 2026−0.51−0.02 sd
Jun 12, 2026−0.5−0.02 sd
Jun 5, 2026−0.51−0.03 sd
May 29, 2026−0.51−0.04 sd
May 22, 2026−0.51−0.05 sd
May 15, 2026−0.51−0.07 sd
May 8, 2026−0.51−0.09 sd
May 1, 2026−0.5−0.1 sd

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