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Circular

Comments Requested on Proposed Data Collection Changes for Shared National Credits

December 20, 2004

Circular No. 11671

In a joint press release, the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision requested public comment on proposed changes to the data collection process that supports the Shared National Credit review of large syndicated loans.

The program, which has been in place since 1977, is an interagency examination and supervision effort designed to evaluate loan commitments aggregating $20 million or more that are shared by three or more supervised institutions. The program provides a process to assign uniform credit ratings for shared national credits in addition to collecting and analyzing data that regulators use to monitor credit conditions and trends at the nation's largest banks.

The proposed data collection changes would enable the agencies to improve the efficiency and effectiveness of credit reviews, support continued risk-focusing efforts in the program, and provide comparative credit risk information to banks and regulatory supervisors. Under the proposal, the data collection changes would be implemented with the 2007 review, employing data as of December 31, 2006.

Comments proposed data collection changes are requested by February 15, 2005.

Joint press release OFFSITE
Interagency notice OFFSITE
Federal Register notice OFFSITE

Contact:
Laurence C. Bonnemere
Assistant Vice President
Credit Risk Function
larry.bonnemere@ny.frb.org

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