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FDIC chairman: FFIEC CAMELS proposal seeks to refocus supervisory emphasis, agency will review comments
Summary
Chairman Travis Hill said the CAMELS proposal issued through the FFIEC aims to reduce double counting and reorient supervision toward core financial risks; he acknowledged the interagency process requires compromise and said agencies will consider public comments before finalizing changes.
Reporters asked whether the recent CAMELS proposal — circulated through the Federal Financial Institutions Examination Council (FFIEC) — goes far enough to address concerns about double counting between the management component and other categories.
Chairman Travis Hill said the FFIEC process involves many agencies and compromises, but that the proposal attempts to shift supervisory focus toward core financial risks and reduce double counting. “I think the proposal that we issued did a reasonably good job of incorporating a number of different views,” Hill said, adding that the agencies will review comments and work toward a final statement.
Hill acknowledged the process may not have gone as far as some would like and invited public comment; he framed the proposal as part of an interagency effort rather than a unilateral FDIC initiative.
