By Michelle Worth
By Michelle Worth
WASHINGTON, Oct 18 (Reuters) – U.S. banking regulators on Friday sought public touch upon the decades-old framework used to evaluate the well being of the nation’s banks, in one other win for the trade which has lengthy complained the system is opaque and outdated.
The Federal Reserve and Federal Deposit Insurance coverage Company stated in separate statements they have been searching for enter on the consistency of the so-called CAMELS scores, and their use in assessing enforcement actions and financial institution functions for branches and different enterprise points.
The general public has 60 days to submit suggestions.
Jelena McWilliams, who turned FDIC chair final 12 months, has stated she needs elevated transparency about how the company charges banks’ monetary well being utilizing the system, which measures capital adequacy, asset high quality, administration functionality, earnings, liquidity and threat sensitivity.
She advised Reuters in January that the Federal Monetary Establishments Examination Council, a banking regulators interagency group, had begun…