Proposed changes to collection of data for Shared National Credit reviews.The federal bank and thrift institution Thrift institution An organization formed as a depository for primarily consumer savings. Savings and loan associations and savings banks are thrift institutions. regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. requested public comment on December 16, 2004, on proposed changes to the data collection process that supports the Shared National Credit review of large syndicated loans Syndicated Loan A very large loan in which a group of banks work together to provide funds for one borrower. There is usually one lead bank that takes a small percentage of the loan and syndicates the rest to other banks. Notes: Also known as a "syndicated bank facility. . The program, which has been in place since 1977, is an interagency in·ter·a·gen·cy adj. Involving or representing two or more agencies, especially government agencies. examination and supervision effort designed to evaluate loan commitments aggregating $20 million or more that are shared by three or more supervised su·per·vise tr.v. su·per·vised, su·per·vis·ing, su·per·vis·es To have the charge and direction of; superintend. [Middle English *supervisen, from Medieval Latin institutions. The program provides a process for assigning uniform credit ratings for shared national credits in addition to collecting and analyzing data that regulators use to monitor credit conditions and trends at the nation's largest banks. The proposed data collection changes would enable the agencies to improve the efficiency and effectiveness of credit reviews, support continued risk-focusing efforts in the program, and provide comparative credit risk information to banks and regulatory supervisors. Under the proposal, the data collection changes would be implemented with the 2007 review, employing data as of December 31, 2006. Comments were requested by February 15, 2005. |
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