Agencies Announce Shared National Credit Definition Change

The federal banking agencies today announced an increase to the aggregate loan commitment threshold for inclusion in the Shared National Credit Program from $20 million to $100 million. The change — which is effective Jan. 1 — is expected to reduce the regulatory reporting burden for 82 financial institutions while reducing the dollar amount of loans identified by SNCs by just 2 percent.

The agencies also announced that beginning in 2018, annual SNC results will be reported after the third quarter examination and reflect data as of June 30. Previously, annual results were reported after the first quarter examination, reflecting data as of Dec. 31.