TO THE OFFICER IN CHARGE OF SUPERVISION AT EACH FEDERAL RESERVE BANK
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.
Deputy Associate Director
ATTACHMENT MAY BE OBTAINED FROM FEDERAL RESERVE BANK
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