H8: Forthcoming H.8 Benchmark and Change to Seasonal Factor Update Frequency

Effective with the forthcoming release dated December 15, 2023, with data as of December 6, 2023, data on the H.8 release will be benchmarked through the September 2023 Call Report. Data were last benchmarked through the June 2023 Call Report. The release will also incorporate revisions to underlying data. Seasonal factors will not be updated for this benchmark release. Going forward, seasonal factors will be updated once per year, typically in the summer when the data are benchmarked through the March Call Report, or as needed. This methodological change will reduce volatility in the series and allow for a more thorough annual review of the seasonal factors.