BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
WASHINGTON, D. C. 20551
DIVISION OF BANKING
SUPERVISION AND REGULATION
SR 94-62 (FIS)
December 22, 1994
TO THE OFFICER IN CHARGE OF SUPERVISION
AT EACH FEDERAL RESERVE BANK
SUBJECT: Shared National Credit Program - Interagency Agreement
Attached for your information is an updated Shared National Credit ("SNC") Program - Interagency Agreement that was recently signed by representatives of the Federal Reserve, the Office of the Comptroller of the Currency ("OCC"), and the Federal Deposit Insurance Corporation ("FDIC"). The new agreement supersedes the 1987 SNC interagency agreement.
While the agreement is essentially the same in principle, it incorporates changes resulting from certain enhancements that have been made to operational procedures and to definitions, based upon prior experience with the SNC Program.
It should be noted that the strict standard regarding the confidential treatment of SNC information has not changed from previous years. The disclosure of such information to parties other than bank regulators, regarding either individual credits or aggregate data must be approved by the Director of Banking Supervision and Regulation at the Board. The only exception to this disclosure policy is that SNC agent and participating banking organizations will receive SNC information on credits for which they are an agent or participant.
The agreement should be retained by your Reserve Bank's SNC Coordinator. In addition, copies of the agreement should be distributed to those individuals on your staff who will be participating in the 1995 SNC Program.
If you have any questions regarding the Interagency Agreement in particular, or the SNC Program in general, please contact either Lisa Stephens at the Federal Reserve Bank of New York, (212) 720-5897, or Tom Pritchard at (202) 452-2291 at the Board.
James I. Garner
Deputy Associate Director
ATTACHMENT MAY BE OBTAINED FROM FEDERAL RESERVE BANK
SR letters | 1994