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#322842 - 02/26/05 06:24 PM Compliance ratings
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Now, I know that we are not allowed to release our compliance ratings to the public. Does anyone know the reasoning for this? (Not the law, but the logic).

Is it to protect the examiner who gave the rating, should it turn out not to be as good as he/she said?
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#322843 - 02/26/05 10:59 PM Re: Compliance ratings
HRH Dawnie Offline
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It's to keep you from being jealous of me
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#322844 - 02/26/05 11:12 PM Re: Compliance ratings
Kathleen O. Blanchard Offline

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did you get a really good one you want to brag about? we could develop a code...apples, carrots, turnips, etc.
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#322845 - 02/26/05 11:47 PM Re: Compliance ratings
HRH Dawnie Offline
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LOL I always think it's funny we can't tell, but if we're asked about our ability to underwrite certain bonds a bank is allowed to answer that question. Most banks know what the answer to that question means in terms of ratings

My rating is Outstanding I must have chosen the only one that can be shared because I don't keep secrets well (That's my rating for 2001 by the way...the other one is in a bag being shook up by my lovely examiner at this point so I don't know what it is)
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#322846 - 02/27/05 05:54 PM Re: Compliance ratings
Princess Leia Offline
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Dawnie - isn't that your CRA rating vs. a compliance rating?
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#322847 - 02/27/05 08:40 PM Re: Compliance ratings
HRH Dawnie Offline
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Well CRA is compliance But I do know there are other ratings we're chatting about

(Just like a compliance person...dismiss my reg)
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#322848 - 02/27/05 09:15 PM Re: Compliance ratings
rainman Offline
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The theory as to why examination ratings (including CAMEL, compliance, etc.) are secret is that Congress doesn't want a runoff of deposits from a bank based on a "bad" rating.
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#322849 - 02/27/05 09:30 PM Re: Compliance ratings
HRH Dawnie Offline
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Yes Best we suprise the clients at the very last second
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#322850 - 02/27/05 09:44 PM Re: Compliance ratings
Kathleen O. Blanchard Offline

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Public ratings would go a lot farther in getting a public bank's act together than Sarbanes! Everyone is always talking about letting the market govern and cut down on regulations. That would sure do it.

Just a thought!
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#322851 - 02/27/05 09:47 PM Re: Compliance ratings
HRH Dawnie Offline
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As long as we're here on Sunday, why don't we all call congress? or are we here for other reasons? heh heh
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#322852 - 02/27/05 10:09 PM Re: Compliance ratings
John Burnett Offline
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Could it be because it's the only time you can get anything done without interruptions from .... (fill in the blank)?
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#322853 - 02/27/05 10:55 PM Re: Compliance ratings
Princess Leia Offline
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Quote:

Well CRA is compliance But I do know there are other ratings we're chatting about

(Just like a compliance person...dismiss my reg)





No no no (that's my daughter's new phrase ) I didn't mean it that way! I meant that we get a number for a compliance rating and an Outstanding for CRA (I can hope, can't I??)
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#322854 - 02/27/05 10:56 PM Re: Compliance ratings
HRH Dawnie Offline
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LOL I know, but I couldn't resist a tease You are forgiven and may now go about your day heh heh
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Dawn Coursey VP/CRA Queen

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#322855 - 02/28/05 01:16 PM Re: Compliance ratings
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You are all a bunch of goofballs! I love ya!
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#322856 - 02/28/05 03:03 PM Re: Compliance ratings
Princess Leia Offline
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Hey, I resemble that remark

Group Hug

(This is the anti-"fishing" thread)
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#322857 - 02/28/05 03:13 PM Re: Compliance ratings
Andy_Z Offline
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In addition to prevention of a run, in the case of a bad rating, it also doesn't appear as an endorsement of the bank by the regulator.

When we got our first CRA Outstanding we ran some ads to this effect. We had our regulator look at them first because they wanted to be specific that there didn't appear to be an endorsement and that this had nothing to do with the financial health of the bank.
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#322858 - 02/28/05 04:21 PM Re: Compliance ratings
Sisyphus Offline
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This is just in from the Fed.

In skimming, I did not find the reasoning behind the prohibition, but this is a reminder from them.
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#322859 - 02/28/05 04:25 PM Re: Compliance ratings
Princess Leia Offline
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Hmmm . . . impeccable timing. Maria, did you spill the beans??
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#322860 - 02/28/05 04:35 PM Re: Compliance ratings
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Nope.
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#322861 - 02/28/05 04:43 PM Re: Compliance ratings
William Offline
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Has somebody been telling... ok fess-up who was it?

(The examining agencies want to know!)
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#322862 - 02/28/05 04:43 PM Re: Compliance ratings
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from 12cfr510.5:

(b) Purpose. The purposes of this section are:

(1) To afford an orderly mechanism for the OTS to expeditiously process requests for unpublished OTS information and, where appropriate, for the OTS to assert evidentiary privileges in litigation;

(2) To balance the need for confidentiality of unpublished OTS information with the private party's interest in obtaining disclosure of that information;

(3) To ensure that the time of OTS employees is utilized in the most efficient manner consistent with the OTS's statutory mission;

(4) To prevent undue burdens on the OTS;

(5) To limit the expenditure of the OTS's funds for private purposes; and

(6) To maintain the impartiality of the OTS among private litigants.

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#322863 - 02/28/05 05:16 PM Re: Compliance ratings
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(7) To obviate the need for the OTS to justify to anyone how they grade.
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#322864 - 02/28/05 05:20 PM Re: Compliance ratings
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Quote:

(7) To obviate the need for the OTS to justify to anyone how they grade.




ROFLMAO!!!
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