U.S. regulators say that due to poor underwriting standards and the continuing weakness in economic conditions, in 2009 the level of losses from syndicated loans facing banks and other financial institutions tripled to $53 billion.
Shared National Credit Program (SNC) 2009 Review
According to the Shared National Credit Program (SNC) 2009 Review, which is an annual inter-agency report that has been released on Thursday, credit quality with respect to large loans and loan commitments deteriorated to record levels.
By whom this reviews is prepared?
The Federal Reserve Board of Governors, Federal Deposit Insurance Corp (FDIC), Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) prepare the SNC review.
