Shared National Credit Program
October 19, 2001
Circular No. 11389

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

In a joint press release, the Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency report a continued deterioration in the quality of syndicated bank loans.

Questions on this matter should be directed, at this Bank, to Laurence C. Bonnemere, Assistant Vice President.