NCUA to Disclose CAMEL Ratings to State-Chartered Credit Unions
In what it says is an effort to increase transparency, the NCUA said it will begin sharing CAMEL ratings with federally insured state-charted credit unions.
These disclosures will take place after insurance reviews and supervision contacts as part of the agency’s efforts to “more effectively communicate and document weaknesses and concerns related to insurance risk,” NCUA Chairman Debbie Matz wrote last week in a letter to credit unions.
She noted that when NCUA examiners conduct join examinations with state regulators they will attempt to reconcile any differences in their ratings but if they can’t the NCUA will disclose its ratings at the same time as the state regulator, Matz wrote.
Her letter reiterated the agency’s previous policy that the ratings are confidential and shouldn’t be shared with anyone outside the credit union or the regulatory entity.