Press Release
☷Agencies issue 2023 Shared National Credit Program report
Federal Reserve System ( By Press Release office)
Feb 18,2024
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Today , federal bank regulators released the 2023 Shared National Credit ( SNC ) report , which showed that the credit quality of large syndicated bank loans is still okay , but there are some concerns . The report highlighted declining credit quality due to higher interest rates and tight profit margins in certain industries . Risks are especially high in leveraged loans and industries like technology , healthcare , and transportation . The report also noted some improvements in industries impacted by the pandemic . Overall , the review focused on loans from before June 30 , 2023 , and found that there was an increase in total commitments compared to the previous year . Additionally , the percentage of loans needing closer attention also increased . U . S . banks hold a significant portion of SNC commitments , but have a smaller share of non - pass loans . Leveraged loans are a big part of the portfolio , and a majority of non - pass loans are in this category .
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