“The interagency Shared National Credits (SNC) Review for 2011 indicates that credit quality improved for the second consecutive year for large corporate loans and loan commitments held by U.S. bank organizations, foreign bank organizations (FBO), and nonbanks, such as securitization pools, hedge funds, insurance companies, and pension funds. The volume of criticized loans remained high compared to levels before the financial crisis, but declined more than 28 percent from the previous year. A criticized loan is rated special mention, substandard, doubtful, or loss. In addition, the severity of classifications lessened, with a 50 percent reduction in credits rated doubtful or loss. Industry groups demonstrating significant reductions in criticized levels were real estate and construction, media and telecom, and finance and insurance.”
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