The credit quality of large loan commitments owned by U.S. banking organizations, foreign banking organizations and nonbanks, such as insurance companies, improved in 2011 for the second consecutive year, according to the Shared National Credits Review.

Total criticized loans declined more than 28 percent to $321 billion. Loans rated as “doubtful” or “loss”, the two lowest categories of a criticized loan, fell 50 percent to $24 billion.

The review is a function of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency. The report was compiled during the second quarter of 2011, with the latest data coming from March 31. For the full review, click here.