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1 · Level
Where it stands
The score matters less than whether early delinquency is moving into serious delinquency and charge-offs.
2 · Momentum
Which way it is moving
A low but worsening reading is an early warning. A high but improving reading can be a recovery phase.
3 · Transmission
Whether the chain is forming
When delinquency, losses, lending standards, and credit growth move together, the credit-cycle signal turns on.
The monitor uses primary official sources only: New York Fed household credit, Federal Reserve charge-offs, SLOOS, and G.19 revolving credit. Missing values are not invented. This is not investment advice.
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