Commercial and industrial loans, all commercial banks, United States
Commercial and industrial loans, all commercial banks in the United States was $2,959.4 bn in , up 0.8% from and up 10.0% from a year earlier. Over the latest 12 readings it moved between $2,692.3 bn and $2,959.4 bn. The next reading is for October 2026. Source: Federal Reserve Board, H.8; history from .
Key takeaways
- Commercial and industrial loans, all commercial banks at $2,959.4 bn in beats 100% of readings since (Federal Reserve Board).
- Against a ten-year average of $2,533.9 bn, commercial and industrial loans, all commercial banks is above that norm by $425.5 bn (Federal Reserve Board).
- Commercial and industrial loans, all commercial banks has risen for 2 readings in a row up to (Federal Reserve Board).
What this indicator is and why it matters
Commercial and industrial loans, all commercial banks, are loans to businesses for purposes other than real estate, such as working capital, equipment and inventory, as reported in the Federal Reserve's H.8 release. The series here is the seasonally adjusted monthly average of the weekly estimates for commercial banks in the United States, including US branches of foreign banks.
They are the most direct measure of bank lending to companies. Firms draw on credit lines when cash is short or when bond markets are closed to them, and repay when they can borrow more cheaply elsewhere, so the series moves with both business investment and conditions in corporate debt markets. Banks read it alongside the Federal Reserve's survey of loan officers to judge whether weak growth reflects low demand or tighter lending standards.
Two episodes distort the history. In March and April 2020 companies drew heavily on existing credit lines, and Paycheck Protection Program loans, which were booked as commercial and industrial loans, added more; most of that ran off as loans were repaid or forgiven. And like other H.8 series, recent months are estimates that are revised when quarterly Call Report data arrive.
Where it sits in history
Commercial and industrial loans, all commercial banks is at its highest since , when it stood at $3,035.6 bn. Within ten years, commercial and industrial loans, all commercial banks beats 99% of readings.
| Window | Latest is higher than | Average | Highest | Lowest |
|---|---|---|---|---|
| Since January 2006 | 100% of readings | $1,984.0 bn | $3,035.6 bn | $1,048.6 bn |
| Last ten years | 99% of readings | $2,533.9 bn | $3,035.6 bn | $2,064.9 bn |
| Last five years | 100% of readings | $2,721.8 bn | $2,959.4 bn | $2,416.8 bn |
- Commercial and industrial loans, all commercial banks $2,959bn
Recent readings
Last five years
- Commercial and industrial loans, all commercial banks $2,959bn
Latest readings
| Period | Value | Change from previous |
|---|---|---|
| $2,959.4 bn | +0.8% | |
| $2,934.9 bn | +1.6% | |
| $2,888.2 bn | -0.3% | |
| $2,897.6 bn | +0.4% | |
| $2,885.7 bn | +1.1% | |
| $2,855.4 bn | +1.3% | |
| $2,819.6 bn | +1.3% | |
| $2,782.6 bn | +1.7% | |
| $2,736.0 bn | +1.0% | |
| $2,708.5 bn | +0.3% | |
| $2,700.8 bn | +0.3% | |
| $2,692.3 bn | +0.0% | |
| $2,691.0 bn | +0.4% |
Annual averages
By calendar-year average, commercial and industrial loans, all commercial banks peaked in ($2,773.5 bn) and bottomed in ($1,119.3 bn). 2026 to date: $2,862.2 bn, after $2,679.6 bn in 2025.
| Year | Average | Low | High | Readings |
|---|---|---|---|---|
| 2026 (part year) | $2,862.2 bn | $2,736.0 bn | $2,959.4 bn | 9 |
| 2025 | $2,679.6 bn | $2,657.3 bn | $2,708.5 bn | 12 |
| 2024 | $2,765.1 bn | $2,742.0 bn | $2,793.4 bn | 12 |
| 2023 | $2,773.5 bn | $2,752.9 bn | $2,814.2 bn | 12 |
| 2022 | $2,658.4 bn | $2,487.9 bn | $2,800.5 bn | 12 |
| 2021 | $2,495.0 bn | $2,416.8 bn | $2,587.0 bn | 12 |
| 2020 | $2,709.0 bn | $2,350.7 bn | $3,035.6 bn | 12 |
| 2019 | $2,347.8 bn | $2,325.6 bn | $2,370.6 bn | 12 |
| 2018 | $2,195.4 bn | $2,109.7 bn | $2,303.7 bn | 12 |
| 2017 | $2,085.8 bn | $2,064.9 bn | $2,113.0 bn | 12 |
| 2016 | $2,045.0 bn | $1,963.9 bn | $2,089.5 bn | 12 |
| 2015 | $1,880.2 bn | $1,791.6 bn | $1,952.9 bn | 12 |
| 2014 | $1,685.0 bn | $1,586.8 bn | $1,773.2 bn | 12 |
| 2013 | $1,525.3 bn | $1,485.1 bn | $1,574.3 bn | 12 |
| 2012 | $1,401.4 bn | $1,321.3 bn | $1,474.6 bn | 12 |
| 2011 | $1,244.5 bn | $1,195.9 bn | $1,304.0 bn | 12 |
| 2010 | $1,199.5 bn | $1,185.2 bn | $1,238.4 bn | 12 |
| 2009 | $1,412.2 bn | $1,265.4 bn | $1,544.4 bn | 12 |
| 2008 | $1,509.8 bn | $1,440.6 bn | $1,586.9 bn | 12 |
| 2007 | $1,289.5 bn | $1,192.2 bn | $1,417.8 bn | 12 |
| 2006 | $1,119.3 bn | $1,048.6 bn | $1,182.7 bn | 12 |
Link to US banks
Commercial and industrial loans, all commercial banks sits on the balance sheets of the banks profiled here. Median net loans and leases, 500 US banks we cover: $4.3 bn at Q2 2026; commercial and industrial loans, all commercial banks: $2,959.4 bn in . Net loans and leases ranking.
How is it measured?
Commercial and industrial loans of all commercial banks, seasonally adjusted, monthly average.
Federal Reserve Board publishes commercial and industrial loans, all commercial banks monthly in H.8, in USD and is seasonally adjusted. Code: B1023NCBAM. Monthly basis: each month shows the average of the daily values in that month. Method for commercial and industrial loans, all commercial banks.
Questions
How high is commercial and industrial loans, all commercial banks in the United States now?
$2,959.4 bn in (Federal Reserve Board), up 10.0% on a year earlier.
Is commercial and industrial loans, all commercial banks high by historical standards?
Commercial and industrial loans, all commercial banks beats 100% of readings since ; its peak was $3,035.6 bn (), its low $1,048.6 bn ().
When is commercial and industrial loans, all commercial banks updated?
Monthly, in H.8. Next reading: October 2026.
Where can I check commercial and industrial loans, all commercial banks at the source?
Federal Reserve Board data, code B1023NCBAM.