The Federal Reserve Bank of Dallas and the Federal Reserve Bank of New York announced a pilot survey of lending trends in the U.S. private credit direct lending market. The voluntary survey will examine credit availability, lending activity and changes in lending standards to inform analysis of the broader economy and monetary policy. Its findings will not be used for supervisory purposes. The survey will divide borrowers into three groups based on earnings before interest, taxes, depreciation and amortization: upper middle market borrowers above USD 100 million, middle market borrowers from USD 30 million to USD 100 million, and lower middle market borrowers below USD 30 million. The initiative is expected to launch after the end of the third quarter of 2026, with aggregate findings anticipated in the first quarter of 2027.
Federal Reserve Bank of Dallas2026-08-05
Federal Reserve Banks of Dallas and New York to launch pilot survey of USD 1.3 trillion private credit market
The Federal Reserve Banks of Dallas and New York will launch a voluntary pilot survey of lending trends in the U.S. private credit direct lending market after the third quarter of 2026. Aggregate findings, covering credit availability and lending standards across three borrower-size segments, are expected in the first quarter of 2027 and will not be used for supervisory purposes.