Source: Federal Reserve Bank of Chicago
The National Financial Conditions Index (NFCI) measures risk, liquidity and leverage in money markets and debt and equity markets as well as in the traditional and “shadow” banking systems. Positive values of the NFCI indicate financial conditions that are tighter than average, while negative values indicate financial conditions that are looser than average.
For further information, please visit the Federal Reserve Bank of Chicago's web site: http://www.chicagofed.org/webpages/publications/nfci/index.cfm.
Federal Reserve Bank of Chicago, Chicago Fed National Financial Conditions Index [NFCI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NFCI, July 25, 2016.