SHARED NATIONAL CREDITS (SNC) MONITOR
System-Wide Stress Testing // Updated: 2026-02-02 14:00 EST
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SECTOR HEATMAP
COMMERCIAL REAL ESTATE
CRITICAL
Non-Accrual Rate:
8.4%
Refinance Wall:
$120B (Q3)
LTV Avg:
105%
LEVERAGED BUYOUTS (LBO)
CRITICAL
Avg Leverage:
6.8x
ICR < 1.0:
22% of Issuers
Secondary Bid:
65c
TECHNOLOGY (SaaS)
STRESSED
Churn Rate:
18% (YoY)
Cash Burn:
High
Down Rounds:
Increasing
ENERGY & UTILITIES
STABLE
Free Cash Flow:
Positive
Debt/EBITDA:
1.5x
Capex:
Disciplined
CONSUMER DISCRETIONARY
STRESSED
Delinquency (CC):
4.5%
Inventory:
Bloated
Margins:
Compressing
DEFENSE & AERO
ROBUST
Backlog:
Record High
Govt Spend:
Accelerating
Credit Rating:
AA
BANK EXPOSURE METRICS
TIER 1 CAPITAL RATIO (System Avg)
11.2% (-150bps)
PROVISIONS FOR CREDIT LOSSES
$42.5B (+22%)
SHADOW BANKING LEVERAGE
UNKNOWN