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The Board of Governors of the Federal Reserve System (Board) is seeking comment on proposed revisions to its Large Financial Institution (LFI”) rating system (LFI Framework”) and the ratings system for depository institution holding companies significantly engaged in insurance activities, referred to as supervised insurance organizations (Insurance Supervisory Framework,” collectively with the LFI Framework, Frameworks”), which is modeled on the LFI Framework. The proposal would revise the component ratings that a firm must receive to be considered well managed” under the Frameworks. The proposed revisions reflect experience with the LFI Framework since its introduction in 2018. Specifically, the proposed changes aim to ensure that a firm's well managed” status reflects that the firm has sufficient financial and operational strength and resilience to maintain safe-and-sound operations through a range of conditions, including stressful ones. The proposed revisions also seek to further align the application of the Frameworks with the operation of other existing supervisory ratings systems. The proposed revisions would not change the scope of firms to which the Frameworks apply. Other changes to the Frameworks and existing supervisory ratings systems will be considered in the future.