Shared National Credit Program


DEFINITION of 'Shared National Credit Program'

A program formed in 1977 to provide an efficient and consistent review and classification of any large syndicated loan. The program was established by the board of governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.

BREAKING DOWN 'Shared National Credit Program'

The program currently covers any loan or loan commitment of at least $20 million that is shared by three or more supervised institutions. The agencies' review is conducted annually, usually in mid-year. In its 2009 review, the Federal Reserve said that "criticized assets," which included large syndicated loans classified in categories including doubtful or loss, reached $642 billion, up from $373 billion in the preceding year.

  1. Office Of The Comptroller Of The ...

    A U.S. federal agency that serves to charter, regulate and supervise ...
  2. Credit Facility

    A type of loan made in a business or corporate finance context. ...
  3. Federal Deposit Insurance Corporation ...

    The U.S. corporation insuring deposits in the U.S. against bank ...
  4. Syndicated Loan

    A loan offered by a group of lenders (called a syndicate) who ...
  5. Federal Reserve System - FRS

    The central bank of the United States. The Fed, as it is commonly ...
  6. Bank Deposits

    Money placed into a banking institution for safekeeping. Bank ...
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