ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Commercial Lending

Brainard: Fed Will Not Tell Banks to Restrict Lending to Oil and Gas Firms

January 13, 2022
Reading Time: 1 min read

With regulatory scrutiny of climate change-related risks growing, Federal Reserve Governor Lael Brainard promised today that the Fed’s climate risk supervision will not include directives for banks not to lend to specific industries like oil and gas. “That’s not our job. We don’t tell banks which sectors to lend to,” said Brainard during her confirmation hearing to be vice chair of the Fed, in response to questions from Sen. John Kennedy (R-La.) “We ask them to risk manage and we make sure they have good processes in place.”

During the hearing, responding to questions from Ranking Member Pat Toomey (R-Pa.), Brainard also said she has “not suggested we should do stress tests for climate,” although she noted that “geo-economic” risks have historically been incorporated into the Dodd-Frank stress testing process. Instead, she said the supervisory approach the Fed has taken is to “ask large institutions in particular, ‘Do you have a good risk management framework for assessing all of your material risks?’. . . It is very well known to the large institutions and really not very different from what they’re doing today.”

Brainard added that she did not think climate-related supervisory guidance is “appropriate for small institutions. . . . they’ll decide what their risks are. I’m really more focused on the large institutions, who themselves come in to tell us that they’d like to have more consistent expectations in this area across jurisdictions.”

ADVERTISEMENT
Tags: Climate changeOil and gasRisk managementStress tests
ShareTweetPin

Related Posts

Fed Survey: Banks tighten policies on commercial real estate lending

ABA DataBank: Planned/announced office conversions spike

Commercial Lending
June 20, 2025

With low housing supply continuing to be a concern, planned conversions of office commercial real estate into residential units are starting to pick up.

Survey: Customers see little difference between mortgage lenders

OCC releases mortgage performance report for Q1 2025

Economy
June 20, 2025

The OCC released the first quarter 2025 mortgage metrics report, which showed that 97.6% of first-lien mortgages in the federal banking system were current and performing at the end of the quarter.

FBI: Crypto-related fraud losses increased 45% in 2023

Justice Department seizes millions of dollars linked to alleged crypto investment scams

Compliance and Risk
June 20, 2025

The Department of Justice announced it has seized $225.3 million in funds linked to cryptocurrency investment scams. The action marks the largest cryptocurrency seizure in Secret Service history.

ABA urges FinCEN to reevaluate BOI collection burden on banks

FinCEN releases figures on BSA filings

Compliance and Risk
June 20, 2025

Financial institutions filed 4.7 million suspicious activity reports in fiscal year 2024. They filed 20.5 million currency transaction reports during the same time frame.

FinCEN to propose new rules on money laundering, whistleblower program

Treasury official outlines principles for Bank Secrecy Act modernization

Compliance and Risk
June 18, 2025

The Treasury Department is exploring ways to streamline the filing process for suspicious activity reports and currency transaction reports as part of a broader effort to modernize BSA enforcement, Deputy Secretary of the Treasury Michael Faulkender said.

Podcast: Staying close to clients amid tariff-driven volatility

Podcast: Staying close to clients amid tariff-driven volatility

ABA Banking Journal Podcast
June 18, 2025

Amid tariff-related volatility, how are small and midsize businesses and the banks that serve them faring?

NEWSBYTES

ABA DataBank: Planned/announced office conversions spike

June 20, 2025

OCC releases mortgage performance report for Q1 2025

June 20, 2025

Justice Department seizes millions of dollars linked to alleged crypto investment scams

June 20, 2025

SPONSORED CONTENT

AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025

PODCASTS

Podcast: Staying close to clients amid tariff-driven volatility

June 18, 2025

Podcast: Old National’s Jim Ryan on the things that really matter

June 12, 2025

Podcast: What bankers need to know about ‘First Amendment audits’

June 5, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.