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Regulators raise dollar threshold 400% in shared national credit program

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Regulators raise dollar threshold 400% in shared national credit program

Federal banking regulators have raised the aggregate loan commitment threshold for inclusion in the Shared National Credit program. It will be $100 million, up from $20 million.

The Federal Reserve Board, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency attributed the adjustment to inflation and changes in average loan size. This is the first time the dollar threshold has been raised since the program began in 1977.

The higher threshold is expected to reduce the reporting burden for 82 lenders, while at the same time decreasing the shared national credit portfolio by only 2%.

The change takes effect Jan. 1, 2018. In addition, annual shared national credit results will be reported after third-quarter exams to reflect data as of June 30. They were previously reported after first-quarter exams, reflecting data as of Dec. 31.

The Shared National Credit program assesses risks and trends associated with the largest and most complex credits that are shared by multiple financial institutions.