Submit feedback on proposed CAMELS changes
Credit union feedback is needed on proposed revisions to the CAMELS rating system, and a new Regulatory Comment alert from America’s Credit Unions contains information, deadlines, and more.
The Federal Financial Institutions Council has proposed revisions that would keep the basic CAMELS framework but revise several parts of the rating system to more closely tie ratings to a financial institution’s financial condition and risk profile. It would focus ratings on issues that materially affect safety and soundness, reduce the weight currently placed on the Management component, clarify when specialty review findings should affect CAMELS ratings, and remove references to reputation risk.
Comments can be submitted to America’s Credit Unions by July 20 to inform its comment letter and are due to the FFIEC by Aug. 17.