WASHINGTON—The Federal Reserve and the Federal Deposit Insurance Corp. have extended the deadline for the public to respond to a request for information on the rating system used to score banks' overall condition.
The two agencies
People will now be able to submit comments on the consistency of ratings assigned under the Camels system until Feb. 28, the agencies said Tuesday. The previous deadline was Dec. 30.
The extended deadline will “allow interested persons more time to analyze the issues and prepare their comments,” according to a release from the FDIC and the Fed.
The FDIC and the Fed's request for information asked whether the agencies are assigning ratings in a manner that is consistent with the Camels system, how the agencies communicate a Camels rating after on-site examinations and if the use of the Camels system varies from one examination cycle to another.
The regulators also asked what practices they should consider changing “to enhance the consistent assignment of Camels ratings,” what elements of a Camels rating should receive more or less emphasis, how a rating impacts what enforcement actions are issued and how a rating might affect a bank’s business activities.