Stress Tests Scenarios Data Definitions - Domestic 

Variable Description

Scenario Name Scenario Name

Date Date

Real GDP growth

Quarterly percent change in real gross domestic product (chained 2017 dollars), expressed at 

an annualized rate, Bureau of Economic Analysis (NIPA table 1.1.6, line 1).

Nominal GDP growth

Quarterly percent change in gross domestic product (current dollars), expressed at an 

annualized rate, Bureau of Economic Analysis (NIPA table 1.1.5, line 1).

Real disposable 

income growth

Quarterly percent change in real disposable personal income (current-dollar values divided 

by the price index for personal consumption expenditures), expressed at an annualized rate, 

Bureau of Economic Analysis (NIPA table 2.1, line 27, and NIPA table 1.1.4, line 2).

Nominal disposable 

income growth

Quarterly percent change in disposable personal income (current dollars), expressed at an 

annualized rate, Bureau of Economic Analysis (NIPA table 2.1, line 27).

Unemployment rate

Quarterly average of seasonally adjusted monthly unemployment rates for the civilian, noninstitutional population aged 16 years and older, Bureau of Labor Statistics (series 

LNS14000000).

CPI inflation rate

Percent change in the quarterly average of seasonally adjusted monthly levels of the allitems CPI for all urban consumers (CPI-U), expressed at an annualized rate, Bureau of Labor 

Statistics (series CUSR0000SA0).

3-month Treasury rate

Quarterly average of 3-month Treasury bill secondary market rate on a discount basis, H.15 

Release, Selected Interest Rates, Federal Reserve Board (series RIFSGFSM03_N.B).

5-year Treasury yield

Quarterly average of the yield on 5-year U.S. Treasury notes, constructed for the FRB/U.S. 

model by Federal Reserve staff based on the Svensson smoothed term structure model (see 

Lars E. O. Svensson, 1995, “Estimating Forward Interest Rates with the Extended Nelson–

Siegel Method,” Quarterly Review, no. 3, Sveriges Riksbank, pp. 13–26).

10-year Treasury yield

Quarterly average of the yield on 10-year U.S. Treasury notes, constructed for the FRB/U.S. 

model by Federal Reserve staff based on the Svensson smoothed term structure model (see 

Svensson, “Estimating Forward Interest Rates”).

BBB corporate yield

Quarterly average of ICE BofAML U.S. Corporate 7-10 Year Yield-to-Maturity Index, ICE Data 

Indices, LLC, used with permission (C4A4 series).

Mortgage rate

Quarterly average of weekly series for the interest rate of a conventional, conforming, 30-

year fixed-rate mortgage, obtained from the Primary Mortgage Market Survey of the Federal 

Home Loan Mortgage Corporation.

Prime rate

Quarterly average of monthly series, H.15 Release (Selected Interest Rates), Federal Reserve 

Board (series RIFSPBLP_N.M).

Dow Jones Total Stock 

Market Index (Level) End-of-quarter value via Bloomberg Finance L.P.

House Price Index 

(Level)

Price Index for Owner-Occupied Real Estate, Z.1 Release (Financial Accounts of the United 

States), Federal Reserve Board (series FL075035243.Q divided by 1000).

Commercial Real 

Estate Price Index 

(Level)

Commercial Real Estate Price Index, Z.1 Release (Financial Accounts of the United States), 

Federal Reserve Board (series FL075035503.Q divided by 1000).

Market Volatility 

Index (Level)

VIX converted to quarterly frequency using the maximum close-of-day value in any quarter, 

Chicago Board Options Exchange via Bloomberg Finance L.P.