US Agencies (FDIC and FED) announced the extension of the deadline for the request for information on their use of the Uniform Financial Institutions Rating System or UFIRS, also known as the CAMELS rating system. The comment period, which was intended to close on December 30, 2019, has been extended to February 28, 2020. The agencies extended the comment period in response to the requests received for the extension of comment period, thus allowing interested persons more time to analyze the issues and prepare their comments.
The initial notice on request for information from stakeholders was published on October 31, 2019. In this notice, the agencies requested comments on the consistency of ratings assigned by the agencies under Uniform Financial Institutions Rating System. The CAMELS rating system, which contains an overall composite rating, is an acronym of the six evaluation components—Capital, Asset Quality, Management, Earnings, Liquidity, and Sensitivity to market risk. The agencies are also seeking feedback on the current use of CAMELS ratings by the agencies in their bank application and enforcement action processes. The effort to seek comments and information is consistent with the commitment of the agencies to increase transparency, improve efficiency, support innovation, and provide opportunities for public feedback.
Comment Due Date: February 28, 2020
Keywords: Americas, US, Banking, CAMELS Rating, Market Risk, UFIRS, FDIC, FED, ALM, US Agencies
Previous ArticleHKMA Revises Policy Modules Related to Banking Exposure Limits Rules
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.
The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.
The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.
The European Commission (EC) has issued two letters mandating the European Supervisory Authorities (ESAs) to jointly propose amendments to the regulatory technical standards under Sustainable Finance Disclosure Regulation or SFDR.
The European Banking Authority (EBA) published its annual report on convergence of supervisory practices for 2021. Additionally, following a request from the European Commission (EC),
The Swiss National Bank (SNB) published Version 1.2 of the reporting forms (NSFR_G and NSFR_P) on the net stable funding ratio (NSFR) of banks, along with the associated documentation.
The Farm Credit Administration published, in the Federal Register, the final rule on implementation of the Current Expected Credit Losses (CECL) methodology for allowances