Continuation of FIL-13-2005
- Some insurers have requested that banks and savings associations disclose their CAMELS ratings during the underwriting process when the institutions seek directors and officers liability coverage.
- The federal banking and thrift regulatory agencies are reminding banks and savings associations that, except in very limited circumstances, they may not disclose a report of examination or any portion of the report without the prior written permission of the appropriate regulator.
- Any person who discloses or uses non-public information except as expressly permitted by the appropriate regulator or as provided by the regulator's rules may be subject to the criminal penalties provided in 18 U.S.C. § 641.
- The banking and thrift regulatory agencies have requested assistance from the National Association of Insurance Commissioners in notifying insurance companies that requests for CAMELS ratings should be discontinued due to the confidential nature of the ratings.
FDIC-Supervised Banks (Commercial and Savings)
Chief Executive Officer
Chief Financial Officer
Section 309.6 of the FDIC's Rules and Regulations
Interagency Advisory on the Confidentiality of the Supervisory Rating and Other Nonpublic Supervisory Information
Sean Forbush, Division of Supervision and Consumer Protection, firstname.lastname@example.org, 202-898-8506; or Pamela LeCren, Legal Division, email@example.com, 202-898-3730
FIL-13-2005 - PDF 30k (PDF Help)
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