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
BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.