Sageworks Kicks Off Exam Survey
The survey, scheduled for a summer release, asks which areas of federal oversight received the most criticism for an individual institution. The goal, according to a Sageworks release, is to gain a better understanding of how banks and credit unions in the U.S. are faring during their regular examinations.
Federal examinations often are a source of stress for credit union professionals. The survey speaks to a number of potential risk management pain points for financial institutions, including allowance for loan and lease losses, credit analysis, loan review and others, Sageworks said. Additionally, the survey breaks out the topic of stress testing, to gauge if there has been an increased pressure by examiners to stress the portfolio.
In 2013, Sageworks released its survey findings exclusively from the Bank & Credit Union Examination Survey, with the assistance of 165 financial institutions. The 44-page report included recommendations that respondent banks and credit unions received during their federal exams during the previous 12 months. The survey findings, anonymously broken down by regulatory agency, contained sections related to the OCC, FDIC, Federal Reserve and the NCUA. Highlights include recommendations within the areas of credit administration and asset quality, ALLL, stress testing, management and compliance with federal banking regulations.