The Shared National Credit Program (SNC) was established in 1977 by the Board of Governors of the Federal Reserve System (FRS), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) - collectively known as “regulatory agencies”- to provide an efficient and consistent review and classification of any large, syndicated loan. A SNC is defined as any credit or credits to the same obligor, in the same credit agreement, where the aggregate commitment amount is greater than or equal to $100 million and is shared by three or more federally supervised, unaffiliated institutions. Supervised institutions are any financial institution subject to regulation by one of the three regulatory agencies. A non-bank subsidiary of a holding company is considered a supervised institution. The regulatory agencies' review is conducted bi-annually, in the first and third quarters each year. Reporting entities must submit SNC data via the OASIS-SNCnet (SNCnet) reporting application.
New SNCnet Technology
As External Linkannounced in November 2023, the regulatory agencies have undertaken an initiative to modernize the technology applications used to facilitate the SNC Program. The new technology, SNCnet, replaces eSNC for quarterly data submissions, starting with the September 30, 2024 data submission, and will be leveraged for SNC reporting and examinations, starting with the 2025 SNC exams.
SNCnet Onboarding and Training
Many resources will be available to you during your initial onboarding and training of SNCnet. Please visit the Onboarding and Training page frequently for the most up to date information on important dates, drop-in call schedules and topics, frequently asked questions, and more. Reporting instructions and SNCnet user guides are provided below.
Reporting Instructions
SNC Reporting Instructions (last updated September 26, 2024)
Reconciliation Process (coming soon)
SNC Reporting Changes External LinkWebinar and External LinkPresentation
The above video and presentation covers changes to the reporting instructions shared by the SNC Program team during a webinar hosted in April 2024. Please note, some additional reporting instruction changes have been implemented since the webinar, so please refer to the SNC Reporting Instructions for the most current instructions.
XML Reporting Instructions (as of September 30, 2024)
External LinkSNC Agent XSD (last updated October 2024)
External LinkSNC Participant XSD (last updated October 2024)
SNC XML References (last updated October 2024)
SNCnet Instructions
SNC Reporting Validations (last updated October 2024)
SNCnet User Guide (coming soon)
SNCnet Release Notes (coming soon)
SNCnet Access
To access SNCnet, one of your bank’s SNC Firm Administrators must first complete and submit the SNC Reporter Contact Form. Banks regulated by the OCC should email the completed form to SNC@occ.treas.gov. FDIC and FRS regulated banks should email the completed form to kc.srm.snc.reporting@kc.frb.org. Once your account is set up, you will receive a “Welcome to OASIS” email that will direct you to login.gov to complete your two-factor identification, or for user accounts outside the United States, "Welcome to the Federal Reserve System" email that will direct you to create an Okta account.
SNC Reporter Contact Form Instructions (last updated September 2024)
SNC Reporter Contact Form (last updated September 2024)
External LinkLogin.gov Instructions (see Login.Gov Help Center – Getting started with Login.gov)
Setting up Okta in OASIS (last updated October 2024)
Technical/Security Instructions for Whitelisting SNCnet (last updated September 2024)
Additional Information
Concordance Mapping (last updated September 2024)
Publication
Aggregate results are published annually in an interagency press release on the External LinkFederal Reserve Board's website.
Contact Us
For reporting-related questions, please e-mail KC.SRM.SNC.Reporting@kc.frb.org.
For SNCnet Technology questions, please attend one of the daily topic-specific drop-in calls during the month of October or email SYS.SR.SNC.Technology.Office@frb.gov.
*PLEASE NOTE: Please disregard the contact information provided in the welcome email you receive at the time of onboarding; instead, you may contact us via one of the two emails provided above based on the nature of your question.