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Shared National Credits Program
2014 Review

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Washington, D.C.
November 2014

Contents
Executive Summary .................................................................................................................... 4
About the SNC Review ............................................................................................................... 5
PART I: SNC Credit Quality ...................................................................................................... 7
Overall SNC Portfolio................................................................................................................. 7
Overall SNC Credit Quality and Trends ..................................................................................... 7
PART 2: SNC Loan Distribution................................................................................................ 8
Loan Distribution by Volume ..................................................................................................... 8
Loan Distribution by Credit Quality ........................................................................................... 8
PART 3: Syndicated Loan Underwriting Trends ..................................................................... 9
PART 4: SNC Portfolio – Maturity Profile ............................................................................... 9
Appendix A: Committed and Outstanding Balances ............................................................... 10
Appendix B: SNC Industry Trends by Sector.......................................................................... 11
Appendix C: Exposure by Entity Type .................................................................................... 12

Index of Figures and Tables
Figure 1: Overall Credit Facilities and Commitment Trends ........................................................ 7
Figure 2: Overall Criticized Volume and Percentage Trends ........................................................ 8
Table 1: Distribution of SNC Commitments by Lender Type ....................................................... 8
Figure 3: SNC Portfolio—Maturity Schedule ............................................................................... 9

-2-

Errata
The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the
Currency revised this report on November 10, 2014 to correct certain 2014 year figures in Appendix B for
the commodities, real estate, distribution, and government industries.

-3-

Executive Summary
The interagency Shared National Credits (SNC) Review for 2014 indicates that credit quality of syndicated
loans remained broadly unchanged from last year’s review of large syndicated corporate loans and loan
commitments held by U.S. bank organizations, foreign bank organizations (FBO), and nonbanks, such as
securitization pools, hedge funds, insurance companies, and pension funds. Criticized and classified assets
remained elevated at 10.1 percent and 5.6 percent, respectively. The volume of criticized assets increased
12.8 percent to $340.8 billion. As a percentage of total commitments, the criticized asset rate remained
relatively unchanged from the prior year, as the overall SNC portfolio grew as rapidly as weak assets. A
criticized asset is an asset that is rated special mention, substandard, doubtful, or loss. Finally, special
mention dollar volume increased 29.6 percent from the 2013 level.
The review also found serious deficiencies in underwriting standards and risk management of leveraged
loans. Overall, the SNC review showed gaps between industry practices and the expectations for safe- andsound banking articulated in the 2013 guidance1. Thirty-one percent of leveraged transactions originated
within the past year exhibited structures that were cited as weak. In addition, transactions that increased
leverage without a subsequent increase in cash flow should be viewed with greater caution. In many cases,
examiners questioned the borrower capacity to repay newly underwritten loans if economic conditions
deteriorated or if interest rates rose to historical norms. As noted in the 2013 guidance, financial institutions
should ensure borrowers can repay credits when due, and that borrowers have sustainable capital structures,
including bank borrowings and other debt, to support their continued operations through economic cycles.
Please see the 2014 Leveraged Loan Supplement for additional discussion around leveraged lending.
The 2014 review included an evaluation of underwriting standards on SNCs that were originated in 2013.
Examiners noted an increased frequency of weak underwriting during the past year, and this trend heightens
the agencies’ concern. Agents issued a high volume of syndicated leveraged loans to borrowers that may
not have capacity to repay and de-lever to a sustainable level over a reasonable period. Borrowers also
found it easier to increase leverage through dividend recapitalization transactions.
Nonbank entities continued to be the primary buyers of riskier, leveraged loans. Nonbank entities held a
disproportionate share of classified assets compared with their overall ownership of the SNC portfolio.
Nonbank entities owned2 $140.8 billion, or 74.3 percent of all SNC classified credits. A classified asset is
an asset that is rated substandard, doubtful or loss.
Near-term refinancing risk remained low in the SNC portfolio with only 15.0 percent of SNC commitments
scheduled to mature in 2014 and 2015 compared with 39 percent that mature in 2016 and 2017. During
2013 and into 2014, borrowers continued to refinance and modify loan agreements to extend maturities.
These transactions had the effect of relieving near-term refinancing risk, but may not improve borrowers’
ability to repay their debts in the longer term.
Other findings from the 2014 SNC Review include:


Total SNC commitments increased by $379 billion to $3.39 trillion, or 12.6 percent from the 2013
review. Total SNC outstandings increased $206 billion to $1.57 trillion, an increase of 15.2 percent.



Criticized assets increased from $302 billion to $341 billion, representing 10.1 percent of the SNC
portfolio, compared with 10.0 percent in 2013. Criticized dollar volume increased 12.8 percent from
the 2013 level.

1

78 Fed. Reg. 17766 (March 22, 2013)

2

Ownership of SNCs results from retention of a portion of SNCs originated for distribution and/or purchase of SNC
loan participations.

-4-



Classified assets increased from $187 billion to $191 billion, representing 5.6 percent of the portfolio,
compared with 6.2 percent in 2013. Classified dollar volume increased 2.1 percent from 2013.



Credits rated special mention, which exhibit potential weakness and could result in further deterioration
if uncorrected, increased from $115 billion to $149 billion, representing 4.4 percent of the portfolio,
compared with 3.8 percent in 2013. Special mention dollar volume increased 29.6 percent from the
2013 level.



The overall severity of classifications declined, with credits rated as doubtful decreasing from $14.5
billion to $11.8 billion and assets rated as loss decreasing slightly from $8 billion to $7.8 billion. Loans
that were rated either doubtful or loss account for 0.6 percent of the portfolio, compared with 0.7 percent
in the prior review. Adjusted for losses, nonaccrual loans declined from $61 billion to $43 billion, a
27.8 percent reduction. Appendix C reflects nonaccrual loans inclusive of loss dispositions.



The distribution of credits across entity types—U.S. bank organizations, FBOs, and nonbanks—
remained relatively unchanged. U.S. bank organizations owned 44.1 percent of total SNC loan
commitments, FBOs owned 33.5 percent, and nonbanks owned 22 percent. Nonbanks continued to
own a larger share of classified (73.6 percent) and nonaccrual (76.7 percent) assets than their total share
of the SNC portfolio (22 percent). Institutions insured by the Federal Deposit Insurance Corporation
(FDIC) owned 10.1 percent of classified assets and 6.7 percent of nonaccrual loans.

About the SNC Review
The SNC program, governed by an interagency agreement among the Board of Governors of the Federal
Reserve System, the FDIC, and the Office of the Comptroller of the Currency (the agencies), is designed
to review and assess risk in the largest and most complex credits shared by multiple financial institutions.
The program provides uniform treatment of, and increased efficiency in, the risk analysis and classification
of shared credits.
The annual SNC Review results are prepared and released jointly by the agencies. The 2014 SNC Review
included examination of $975 billion in credit commitments covering 29 percent of the $3.39 trillion SNC
portfolio. The sample was weighted toward noninvestment grade and criticized credits with 89.3 percent
of all special mention and classified credits reviewed. Results of the review are based on analyses prepared
in the second quarter of 2014, using credit-related data provided by federally supervised institutions as of
December 31, 2013, and March 31, 2014.

-5-

Definitions


Credit Facilities—Credit facilities include syndicated loans and loan commitments, letters of credit,
and commercial leases, and other forms of credit. Commitment amounts include both drawn and
undrawn portions of the loans, or facilities. The SNC review reports only the par amounts of
commitments, which may differ from the amounts at which loans are carried by investors.



Criticized and Classified Assets—Criticized assets include all assets rated special mention,
substandard, doubtful, and loss. Classified assets include assets rated substandard, doubtful, and loss.
The agencies’ uniform loan classification standards and examination manuals define these risk rating
classifications.



Doubtful—Doubtful assets have all the weaknesses of assets classified as substandard and when the
weaknesses make collection or liquidation in full, on the basis of available current information, highly
questionable or improbable.



Loss—Assets classified as loss are uncollectible and of so little value that their continuance as bankable
assets is not warranted. Amounts classified as loss should be promptly charged off. This classification
does not mean that there is no recovery or salvage value, but rather that it is not practical or desirable
to defer writing off these assets, even though some value may be recovered in the future.



Nonaccrual—Nonaccrual loans are defined for regulatory reporting purposes as loans and lease
financing receivables that are required to be reported on a nonaccrual basis because (a) they are
maintained on a cash basis owing to a deterioration in the financial position of the borrower,
(b) payment in full of interest or principal is not expected, or (c) principal or interest has been in default
for 90 days or longer, unless the obligation is both well secured and in the process of collection.



Pass—A credit that is in good standing and is not criticized in any way.



Shared National Credit (SNC)—A shared national credit is any loan or formal loan commitment, and
any asset such as real estate, stocks, notes, bonds, and debentures taken as debts previously contracted,
extended to borrowers by a federally supervised institution, its subsidiaries, and affiliates, that
aggregates to $20 million or more and is shared by three or more unaffiliated federally supervised
institutions, or a portion of which is sold to two or more unaffiliated federally supervised institutions.
The threshold of $20 million has remained unchanged since the first report in 1977.



Special Mention—Special mention assets have potential weaknesses that deserve management’s close
attention. If left uncorrected, these potential weaknesses could result in further deterioration of the
repayment prospects, or in the institutions’ credit position in the future. Special mention assets are not
adversely rated and do not expose institutions to sufficient risk to warrant adverse rating.



Substandard—Substandard assets are inadequately protected by the current sound worth and paying
capacity of the obligor, or of the collateral pledged, if any. Substandard assets have well-defined
weaknesses that jeopardize the liquidation of the debt and present the distinct possibility that the
institution will sustain some loss if deficiencies are not corrected.

-6-

PART I: SNC Credit Quality
Overall SNC Portfolio
The 2014 SNC portfolio totaled $3.39 trillion, with 9,778 credit facilities to 6,166 borrowers (see Figure
1). The commitment amount rose by $378 billion, or 12.6 percent, from 2013, while the outstanding dollar
volume of the portfolio increased by $206 billion, or 15.2 percent (see appendix A), and the number of
credits increased by 502, or 5.4 percent. Appendix B contains a breakout of SNC results by major industry
group.3
Figure 1: Overall Credit Facilities and Commitment Trends
$4,000

12,000

$3,500

10,000
8,000

$2,500

Facilities

Billions

$3,000

$2,000

6,000

$1,500

4,000

$1,000
2,000

$500
$0

Utilized Exposure

Unfunded Exposure

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

1998

1997

1996

1995

1994

1993

0

Number of Credits

Overall SNC Credit Quality and Trends
The percentages of criticized and classified assets remained elevated at 10.1 percent and 5.6 percent
compared with 10.0 percent and 6.2 percent in 2013, respectively.4 Asset quality improvement observed
during the past three SNC cycles stalled in 2014. This is particularly troubling given the current economic
environment and low interest rates. The criticized asset ratio remained double that of the pre-crisis period.
Criticized assets increased by $38 billion to $341 billion (see Figure 2), a 12.8 percent increase from last
year. Credits rated special mention increased by $34 billion to $149 billion, a 29.7 percent increase. Special
mention credits represented 4.4 percent of the portfolio, compared with 3.8 percent in 2013. Credit quality
in several industry groups improved over the past year, particularly in the commercial real estate segment.
Classified credits increased by $4 billion to $191 billion, a 2.1 percent increase. The volume of nonaccrual
loans net of loss dispositions declined from $61 billion to $43 billion, a 27.8 percent decrease, and
represented 1.3 percent of the portfolio, down from 2.0 percent in 2013.
3

The agencies introduced industry data in 2008 that presented industries vertically along product origination and
distribution lines. The review places credits in seven primary sectors, largely following the outline of the 2007 U.S.
Census Bureau North American Industry Classification System codes (see appendix B). The seven primary sectors
are further dissected into 24 industry groups constructed from 93 subgroups. The analysis in this report uses the 24
industry groups.
4

The criticized credits and related ratios do not include the effects of hedging or other techniques that organizations
may use to mitigate risk.

-7-

Figure 2: Overall Criticized Volume and Percentage Trends
$700

25%

$600

20%

Billions

$500
$400

15%

$300

10%

$200
5%

$100

Special Mention $

Classified $

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

1998

1997

1996

1995

1994

0%
1993

$0

Criticized %

PART 2: SNC Loan Distribution
Loan Distribution by Volume
Table 1 lists the dollar volume and percentage of the SNC portfolio by lender type. The percentage of SNC
commitments owned by U.S. banking organizations decreased slightly from 44.4 percent to 43.4 percent.
The percentage of SNC commitments owned by FBOs declined slightly from 35.8 percent to 34.5 percent
and commitments for nonbanks remained increased from 19.7 percent to 22.1 percent of the portfolio.
Nonbanks included securitization pools, hedge funds, insurance companies, and pension funds. FDICinsured institutions’ share of the SNC portfolio decreased slightly from 47.1 percent to 46.7 percent (see
appendix C).

Table 1: Distribution of SNC Commitments by Lender Type
2013 Total
2014 Total
Lender
2013% Total
Commitments Commitments
Type
Commitments
($ Trillion)
($ Trillion)
U.S. Banks
FBOs
Nonbanks
Total

$1.34
$1.08
$0.59
$3.01

$1.49
$1.14
$0.76
$3.39

44.4%
35.8%
19.7%
100.0%

2014% Total
Commitments
43.4%
34.5%
22.1%
100.0%

Loan Distribution by Credit Quality
While nonbank entities owned the smallest share of SNC commitments (22.1 percent), they owned 73.5
percent of classified assets (see appendix C). U.S. banks owned 13.4 percent of classified assets, and FBOs
owned 13.2 percent. In addition, 18.5 percent of nonbank assets were classified, compared with 1.7 percent
of the U.S. bank portfolio and 2.2 percent of the FBO portfolio. FDIC-insured institutions owned $19.2
billion of classified assets, or 10.0 percent down from 12.2 percent in 2013. Of nonaccrual loans, nonbank
institutions owned 76.3 percent, or $39.2 billion; FDIC-insured institutions owned only $3.4 billion, or 6.7
percent. Classified credits declined for U.S. banks and FBOs, but increased for nonbanks over the past
year. Classified credits held by nonbanks increased by $15 billion, or 12.1 percent, to $140.6 billion; U.S.
-8-

bank classified credits decreased by $3.6 billion, or 12.3 percent, to $25.6 billion; and FBO classified credits
decreased by $7 billion, or 22.5 percent, to $25.1 billion (see appendix C).

PART 3: Syndicated Loan Underwriting Trends
This is the eighth consecutive SNC Review in which examiners conducted an analysis of syndicated loan
underwriting standards. The 2014 review included an evaluation of underwriting standards on 918 SNCs
originated in 2013 compared with 691 in 2012 and 714 in 2013. Underwriting assessments covered 26.5
percent of the number of loans underwritten in 2013 and 28.8 percent of the dollar volume. The review
evaluated structure, repayment terms, pricing, collateral, and loan agreements.
Of the 9,778 SNC reported facilities, 33 percent were originated in 2013. The SNC examination noted
weak underwriting standards in 31 percent of the loan transactions sampled. This percentage compared
unfavorably to 2012, 2011, 2010 and 2009 percentages of 24 percent, 19 percent, 16 percent and 13 percent,
respectively. Leveraged lending transactions were the primary driver of this deterioration. The most
frequently cited underwriting deficiencies identified during the 2014 SNC Review were minimal or no loan
covenants, liberal repayment terms, repayment dependent on refinancing, and inadequate collateral
valuations. The weak underwriting structures were in part attributable to aggressive competition and market
liquidity.

PART 4: SNC Portfolio – Maturity Profile
Refinancing risk increased moderately in the SNC portfolio as 25.0 percent of SNC commitments will
mature in 2015 and 2016, compared with 15 percent for the same period in the 2013 SNC Review. During
2013 and into 2014, syndicators continued to refinance and modify loan agreements to extend maturities.
These transactions had the effect of relieving near-term refinancing risk, but may not improve borrowers’
ability to repay their debts in the longer term. Bank management should ensure such loan modification
strategies are not substituted for realistic debt repayment, or to avoid recognizing problem loans.
Figure 3: SNC Portfolio—Maturity Schedule
$1,200

$800
$600
$400
$200

Pass $

Special Mention $

-9-

Classified $

2020

2019

2018

2017

2016

2015

2014

$0
2013

Billions

$1,000

Appendix A: Committed and Outstanding Balances
(In Billions of Dollars)

Committed and Outstanding Balances
(Dollars in Billions)

Year

Special
Mention

SubStandard

Doubtful

Loss

Total
Classified

Total
Criticized

Total
Committed

Total
Outstanding

1989

24.0

18.5

3.5

0.9

22.9

46.9

692

245

1990

43.1

50.8

5.8

1.8

58.4

101.5

769

321

1991

49.2

65.5

10.8

3.5

79.8

129.0

806

361

1992

50.4

56.4

12.8

3.3

72.5

122.9

798

357

1993

31.7

50.4

6.7

3.5

60.6

92.3

806

332

1994

31.4

31.1

2.7

2.3

36.1

67.5

893

298

1995

18.8

25.0

1.7

1.5

28.2

47.0

1,063

343

1996

16.8

23.1

2.6

1.4

27.1

43.9

1,200

372

1997

19.6

19.4

1.9

0.9

22.2

41.8

1,435

423

1998

22.7

17.6

3.5

0.9

22.0

44.7

1,759

562

1999

30.8

31.0

4.9

1.5

37.4

68.2

1,829

628

2000

36.0

47.9

10.7

4.7

63.3

99.3

1,951

705

2001

75.4

87.0

22.5

8.0

117.5

192.8

2,049

769

2002

79.0

112.0

26.1

19.1

157.1

236.1

1,871

692

2003

55.2

112.1

29.3

10.7

152.2

207.4

1,644

600

2004

32.8

55.1

12.5

6.4

74.0

106.8

1,545

500

2005

25.9

44.2

5.6

2.7

52.5

78.3

1,627

522

2006

33.4

58.1

2.5

1.2

61.8

95.2

1,874

626

2007

42.5

69.6

1.2

0.8

71.6

114.1

2,275

835

2008

210.4

154.9

5.5

2.6

163.1

373.4

2,789

1,208

2009

195.3

337.1

56.4

53.3

446.8

642.1

2,881

1,563

2010

142.7

256.4

32.6

15.4

304.5

447.2

2,519

1,210

2011

106.4

190.7

14.0

9.9

214.6

321.0

2,524

1,118

2012

99.3

161.7

29.5

4.6

195.8

295.1

2,792

1,243

2013

115.0

164.5

14.5

8.0

187.0

302.0

3,011

1,362

2014

149.2

171.0

11.8

7.8

191.3

340.6

3,389

1,568

Note: Figures may not add to totals due to rounding

-10-

Appendix B: SNC Industry Trends by Sector
(In Billions of Dollars)
Indus tiy

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Services
Commitment

377.1

401.6

464.0

589.3

779.0

820.1

735.4

701.3

784.9

821.2

927.3

Classified

21.6

24.0

20.1

18.1

45.0

156.5

120.1

92.3

92.8

86.2

85.5

Special Mention

12.7

5.7

13.3

14.3

106.6

81.5

73.1

57.3

43.2

47.3

65.2

% Classified

5.7%

6.0%

4.3%

3.1%

5.8%

19.1%

16.3%

13.2%

11.8%

10.5%

9.2%

% Special Mention

3.4%

1.4%

2.9%

2.4%

13.7%

9.9%

9.9%

8.2%

5.5%

5.8%

7.0%

788.6

Commodities
Commitment

312.0

325.6

364.1

439.6

578.1

658.8

592.3

593.0

665.0

709.5

Classified

32.7

18.0

18.3

10.7

12.7

77.8

57.7

42.5

34.8

39.4

43.5

Special Mention

15.2

8.9

7.6

7.0

53.6

34.9

20.4

14.0

22.4

27.7

30.0

10.5%

5.5%

5.0%

2.4%

2.2%

11.8%

9.7%

7.2%

5.2%

5.6%

5.6%

4.9%

2.7%

2.1%

1.6%

9.3%

5.3%

3.4%

2.4%

3.4%

3.9%

3.9%

% Classified
% Special Mention
Financial
Commitment

372.7

363.2

431.1

506.3

541.0

470.9

391.3

435.4

462.6

521.9

598.3

Classified

4.2

0.9

2.1

19.2

32.5

60.4

32.6

27.6

24.7

25.3

26.7

Special Mention

0.6

0.5

2.9

3.3

13.7

28.0

17.7

9.6

9.6

12.1

19.6

% Classified

1.1%

0.3%

0.5%

3.8%

6.0%

12.8%

8.3%

6.3%

5.3%

4.8%

4.5%

% Special Mention

0.2%

0.1%

0.7%

0.7%

2.5%

5.9%

4.5%

2.2%

2.1%

2.3%

3.3%

261.7

271.9

289.4

339.4

405.0

436.6

368.4

385.2

431.4

480.1

531.8

11.6

7.3

18.8

18.8

39.8

78.4

27.2

17.0

16.6

15.7

16.5

2.6

9.6

8.1

10.8

13.2

16.3

7.6

4.3

7.7

13.0

16.4

% Classified

4.4%

2.7%

6.5%

5.5%

9.8%

18.0%

7.4%

4.4%

3.9%

3.3%

3.1%

% Special Mention

1.0%

3.5%

2.8%

3.2%

3.3%

3.7%

2.1%

1.1%

1.8%

2.7%

3.1%

Manufacturers
Commitment
Classified
Special Mention

Real Estate
99.5

122.9

159.2

203.6

241.6

244.4

198.2

164.8

164.8

171.9

222.1

Classified

Commitment

1.6

0.6

0.6

2.9

25.3

49.2

45.9

23.7

14.4

5.1

3.9

Special Mention

0.9

0.2

0.5

2.2

9.2

22.3

15.3

11.4

6.9

2.1

2.0

% Classified

1.6%

0.5%

0.4%

1.4%

10.5%

20.1%

23.1%

14.4%

8.8%

3.0%

3.0%

% Special Mention

0.9%

0.1%

0.3%

1.1%

3.8%

9.1%

7.7%

6.9%

4.2%

1.2%

1.2%

306.5

Distribution
108.7

122.3

146.1

175.7

216.0

220.5

199.0

225.9

268.7

291.3

Classified

Commitment

2.2

1.7

1.5

1.9

7.7

23.2

19.6

10.0

10.7

11.8

11.0

Special Mention

0.9

1.0

0.9

4.7

13.9

12.1

8.4

9.8

8.9

12.4

15.9

% Classified

2.0%

1.4%

1.0%

1.1%

3.6%

10.5%

9.9%

4.4%

4.0%

4.1%

4.1%

% Special Mention

0.8%

0.8%

0.6%

2.7%

6.4%

5.5%

4.2%

4.4%

3.3%

4.3%

4.3%

Government
Commitment

14.3

19.1

20.1

21.6

28.6

29.9

34.0

18.5

14.6

15.3

15.8

Classified

0.0

0.0

0.4

0.1

0.0

1.2

1.5

1.5

1.6

3.4

4.2

Special Mention

0.1

0.0

0.1

0.1

0.1

0.2

0.1

0.0

0.5

0.3

0.2

% Classified

0.3%

0.1%

1.8%

0.5%

0.0%

4.0%

4.3%

8.4%

11.0%

22.4%

22.4%

% Special Mention

0.6%

0.0%

0.4%

0.2%

0.4%

0.7%

0.4%

0.0%

3.4%

2.1%

2.1%

All Industries (Total)
Commitment

1,546.1

1,626.6

1,873.9

2,275.4

2,789.2

2,881.2

2,518.5

2,524.2

2,792.0

3,011.1

3,390.5

Classified

74.0

52.5

61.8

71.7

163.1

446.8

304.5

214.6

195.8

187.0

191.3

Special Mention

32.8

25.9

33.4

42.4

210.4

195.3

142.7

106.4

99.3

115.0

149.4

% Classified

4.8%

3.2%

3.3%

3.2%

5.8%

15.5%

12.1%

8.5%

7.0%

6.2%

5.6%

% Special Mention

2.1%

1.6%

1.8%

1.9%

7.5%

6.8%

5.7%

4.2%

3.6%

3.8%

4.4%

Note: Figures may not add to totals due to rounding

Appendix C: Exposure by Entity Type
Share of Total Commitments (%)
2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

US Banking Institutions

46.5

46.5

44.3

42.7

41.1

40.8

40.8

41.5

43.2

44.4

43.4

Insured

43.4

43.4

40.8

38.9

37.4

35.0

36.4

36.3

38.6

40.3

39.6

Uninsured(*)

3.1

3.1

3.5

3.8

3.7

5.8

4.4

5.3

4.7

4.1

3.8

41.6

41.6

41.5

41.4

39.0

38.0

37.9

38.3

36.9

35.8

34.5

FBOs
Insured

5.5

5.5

6.2

6.4

5.1

5.8

5.8

5.7

6.3

6.8

7.1

Uninsured

36.1

36.1

35.3

35.0

33.9

32.2

32.1

32.6

30.6

29.0

27.4

12.0

12.0

14.3

15.9

19.9

21.2

21.3

20.2

19.8

19.7

22.1

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

US Banking Institutions

18.8

11.9

13.1

19.2

47.2

134.8

81.6

49.4

35.8

29.2

25.6

Insured

16.0

8.6

9.0

13.2

38.3

96.3

57.9

31.2

22.3

19.1

16.3

Uninsured(*)

2.8

3.2

4.1

6.0

9.0

38.6

23.8

18.2

13.5

10.1

9.3

31.3

15.5

17.3

17.6

45.9

101.8

62.0

41.7

37.8

32.4

25.1

Nonbanks

Total Classifications ($ billion)

FBOs
Insured

2.8

1.5

1.6

2.3

5.1

11.7

11.2

5.2

4.0

3.4

2.9

Uninsured

28.5

14.0

15.7

15.4

40.8

90.1

50.8

36.5

33.8

29.0

22.1

Nonbanks

24.0

25.0

31.5

34.8

70.0

210.2

160.9

123.5

122.2

125.4

140.6

Totals

74.2

52.5

61.8

71.6

163.1

446.8

304.5

214.6

195.8

187.0

191.3

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

US Banking Institutions

2.6

1.6

1.6

2.0

4.1

11.5

7.9

4.7

3.0

2.2

1.7

Insured

2.2

1.2

1.1

1.4

3.3

8.2

5.6

3.0

1.8

1.4

1.1

Uninsured(*)

0.4

0.4

0.5

0.6

0.8

3.3

2.3

1.7

1.1

0.8

0.6

Classifieds as % of Commitments

FBOs

4.9

2.3

2.2

1.9

4.2

9.3

6.0

4.3

3.7

3.0

2.1

Insured

0.4

0.2

0.2

0.2

0.5

1.1

1.1

0.5

0.4

0.3

0.3

Uninsured

4.4

2.0

2.0

1.6

3.7

8.2

4.9

3.8

3.3

2.7

1.9

13.0

11.7

11.8

9.6

12.6

34.4

30.0

24.3

22.1

21.1

18.8

4.8

3.2

3.3

3.1

5.8

15.5

12.1

8.5

7.0

6.2

5.6

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

US Banking Institutions

7.7

3.9

2.8

0.8

7.4

46.8

35.6

22.0

12.9

7.9

5.4

Insured

0.1

3.1

1.8

0.5

6.3

35.5

24.2

12.8

7.1

4.2

3.0

Uninsured(*)

7.6

0.8

1.0

0.3

1.1

11.3

11.4

9.2

5.8

3.7

2.4

17.6

9.0

4.7

0.9

5.6

35.5

28.6

18.1

15.9

11.2

6.5

-

0.4

Nonbanks
Totals

Total Nonaccrual Commitments ($ billion)

FBOs
Insured

0.4

0.4

0.2

1.0

3.6

3.1

2.0

1.1

0.7

17.6

8.6

4.3

0.7

4.6

31.9

25.5

16.1

14.8

10.5

6.1

Nonbanks

12.3

11.9

10.2

2.2

9.3

89.8

87.0

61.0

56.9

49.7

39.2

Totals

37.6

24.8

17.7

3.9

22.3

172.1

151.2

101.1

85.6

68.8

51.1

Uninsured

(*)Uninsured refers to organizations that do not take consumer deposits such as holding companies,
brokerage firms, finance companies, etc.
Note: Figures may not add to totals due to rounding