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Shared National Credits Program Reports Large Increase in Credit Volume and Significant Deterioration in Credit Quality

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OTS 08-048 – Shared National Credits Program Reports Large Increase in Credit Volume and Significant Deterioration in Credit Quality, October 8, 2008

  • “The volume of Shared National Credits (SNC),2 loan commitments of $20 million or more and held by three or more federally supervised institutions, rose 22.6 percent to $2.8 trillion, and the volume of criticized credits increased to $373.4 billion, or 13.4 percent of the SNC portfolio, according to the 2008 SNC review results released today by federal bank and thrift regulators. The results of the review–reported by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision–are based on analyses prepared in the second quarter of 2008 of credit data provided by federally supervised institutions as of December 31, 2007.”
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