SNCnet Onboarding and Training

The Onboarding and Training information provided below applies to SNC Reporting Contacts who will be required to submit data in the new SNCnet application beginning with the September 30, 2024 data submission. This information will be updated as needed when other SNC contacts onboard to SNCnet.

Onboarding and Training Timeline

Below is a high-level timeline of onboarding and training activities relevant to SNC Reporting Contacts.

How to Access SNCnet

SNCnet accounts will be set up for persons identified by your bank as a SNC Reporting Contact as requested by the KC SRM SNC Reporting team on July 31, 2024. On September 30, 2024, you will receive a welcome email that includes your username and a link to access SNCnet.

If you are a user in the United States, you will receive a “Welcome to OASIS” email that will direct you to login.gov to complete your two-factor authentication, or you may access SNCnet using your existing login.gov username and password if you already use OASIS for non-SNC related examination activities.

*PLEASE NOTE: If you are already using OASIS for non-SNC related examination activity, you may use your existing login.gov username and password to access SNCnet. If you participated in User Acceptance Testing in May or August, you CANNOT use the FAKE login.gov account you set up for testing; instead, you will need to set up a new login.gov account using your REAL profile information.

If you are a user outside the United States, you will receive a “Welcome to the Federal Reserve System” email that will direct you to create an Okta account.

SNCnet Transition Information

Data reported in eSNC for the March 31, 2024 and June 30, 2024 reporting periods were migrated to SNCnet. Please consider accessing eSNC prior to September 30 if you wish to download reports from prior submissions.

To support the new structure and revised validations, please see the important notes that may affect your data.

• Credit Agreement ID – A placeholder value was created for all credits made up of your entity’s Internal Obligor ID and whether the credit qualified as a SNC: [‘Placeholder - [Obligor Internal Entity ID] - SNCFlag – [Y/N]’. When using the Copy Credits from previous report date feature, this value should be replaced with your bank specific value.
• Credit Agreement Date – This field was populated with the Origination Date. When using the Copy Credits from previous report date feature, please confirm this date is correct.
• New Validations (Errors Only) – if any credits violated the validations listed below, the data was adjusted to accommodate:
  • If the Obligor was also reported as the Agent, the Agent was reassigned to the Reporting Bank
  • If a Participant was also reported as the Agent, the Participant was reassigned to the Reporting Bank
  • If the Rated Flag was equal to ‘No’, ratings were updated as follows:
    • Bank Internal Credit Rating set to NH (agent file) or TA (participant file)
    • Concordance Ratings, Accrual Status, and BASEL Ratings (if applicable) removed
  • If a credit was reported with the type ‘Letter of Credit’ or ‘Standby Letter of Credit’, Global Outstanding and Participant shares of Outstanding set to zero ($0)
  • If a credit was reported with the type ‘Other Real Estate Owned’ or ‘Other Assets’, Global Outstanding and Participant shares of Outstanding set to the Global Committed
  • *Banks reporting Bilateral submissions only - Bilateral Credits with same Internal Credit ID as an Agent Credit in the same report date was not migrated
• Removed Credits - credits that were not reported between the December 2023/March 2024 and March 2024/June 2024 reporting periods will be tracked as “Removed” with a reason of ‘Cancelled’ or ‘No Longer a SNC.’
  
  
  

Drop-in Calls

The SNC Technology Office will host daily topic-specific drop-in calls during the month of October to address login, reporting, and other questions. SNC Reporting Contacts will receive invitations directly to attend these sessions or they may contact SYS.SR.SNC.Technology.Office@frb.gov to request an invitation if they have not received one within two days of the scheduled call.