Assets: Liquidity and Credit Facilities: Loans: Primary Credit: Week Average
WPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,491.00
Year-over-Year Change
100.47%
Date Range
6/7/2006 - 7/30/2025
Summary
The Primary Credit Week Average (WPC) tracks the weekly average of loans extended by Federal Reserve Banks to financially sound depository institutions. This metric provides insight into short-term lending conditions and the overall health of the banking system's liquidity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator represents the volume of primary credit extended to eligible financial institutions through the Federal Reserve's discount window lending program. Economists analyze this trend to understand banking system stress, monetary policy transmission, and potential financial market pressures.
Methodology
The data is collected by aggregating daily primary credit lending amounts across Federal Reserve Banks and calculating their weekly arithmetic mean.
Historical Context
Policymakers and financial analysts use this metric to assess banking system liquidity, monetary policy effectiveness, and potential systemic financial risks.
Key Facts
- Primary credit is typically extended to financially sound institutions
- Loans are made at a penalty rate above typical market rates
- The program serves as a backstop for bank liquidity needs
FAQs
Q: What is primary credit?
A: Primary credit is a lending facility where Federal Reserve Banks provide short-term loans to financially stable depository institutions at a predetermined interest rate.
Q: How does primary credit differ from emergency lending?
A: Primary credit is a routine lending mechanism for sound banks, whereas emergency lending is used during severe financial stress for institutions facing significant challenges.
Q: How frequently is the WPC data updated?
A: The WPC data is typically updated weekly, reflecting the most recent lending activity through the Federal Reserve's discount window.
Q: Why do economists monitor primary credit trends?
A: Economists track primary credit to gauge banking system health, potential financial market pressures, and the effectiveness of monetary policy transmission mechanisms.
Q: What are the limitations of the WPC data?
A: The WPC represents only a snapshot of primary credit lending and may not capture broader financial market conditions or long-term lending trends.
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Citation
U.S. Federal Reserve, Assets: Liquidity and Credit Facilities: Loans: Primary Credit: Week Average [WPC], retrieved from FRED.
Last Checked: 8/1/2025