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Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.

Extension of comment period on use of CAMELS ratings

On October 31, the FDIC and the Federal Reserve Board published [84 FR 58383] a Request for Information seeking information and comments from interested parties regarding the consistency of ratings assigned by the agencies under the Uniform Financial Institutions Rating System UFIRS (commonly known as CAMELS ratings). The agencies also sought feedback concerning the current use of CAMELS ratings by the agencies in their bank application and enforcement action processes. The RFI stated that the comment period would close on December 30, 2019. The agencies have received requests to extend the comment period. An extension of the comment period will provide additional opportunity for the public to prepare comments to address the questions posed by the agencies. Therefore, the agencies are extending the end of the comment period for the proposal from December 30, 2019, to February 28, 2020. The notice of that extension was published in today's Federal Register.

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