CAFELSはVRAnalyticsの適応型銀行格付けフレームワークです。CAMELS型の構成要素分析に、Management（M）の代わりにFlows（F）を用い、ネットキャッシュフローと活動構成を資本・資産・収益・流動性・感応度と併用します。
The composite score and probability of default (PD) are derived from these six pillars. Scores are research tools — not credit ratings or investment advice. Open a bank-level report or read the full methodology PDF for calculation details.
| Letter | CAMELS (classic) | CAFELS (VRAnalytics) |
|---|---|---|
| C | Capital adequacy | Capital adequacy — unchanged |
| A | Asset quality | Asset quality — unchanged |
| F | Management | Flows — NCF, operating / investing / financing split, composition of activities |
| E | Earnings | Earnings — unchanged |
| L | Liquidity | Liquidity — unchanged |
| S | Sensitivity to market risk | Sensitivity — unchanged |
Replacing Management with Flows makes the assessment objective and data-driven: cash generation, sustainability of operating cash, and how activities are funded can be measured directly from bank reporting.
Evaluates the strength and growth of regulatory and own funds relative to risk-weighted exposures and balance-sheet size.
Assesses credit risk in the loan and investment portfolio, asset concentration, and deterioration signals in balance-sheet structure.
Replaces Management (M) in CAMELS. Measures how the bank generates and uses cash — net cash flow (NCF) and the composition of operating, investing, and financing activities.
Covers profitability, income quality, and expense efficiency — whether earnings are sufficient to absorb losses and support capital.
Examines the ability to meet short-term obligations: liquid assets, funding structure, and reliance on volatile funding sources.
Captures exposure to interest-rate, FX, and other market moves that can erode capital or earnings under stress.
Component signals from C, A, F, E, L, and S are combined into a single
probability of default (PD) estimate for each bank and reporting date.
The PD maps to a letter score on the VRAnalytics scale (from aaa to c).
For monitoring, points are shown as (1 − PD) × 100 — higher is better. Use the calculator below for bank-level CAFELS component ratings, or open a full report for 12-month history.
Open bank financial condition reports Score methodology (PDF)
Select a Ukrainian bank to compute component ratings (1 = strong, 5 = weak) from the same balance-sheet, cash-flow, ROA, and income/expense ratios used across VRAnalytics.