FDIC’s Gruenberg addresses evolving climate change risk for banks and regulators
Banks have managed weather-related events and risks well, but things are changing and regulators and banks of all sizes will need to adapt.
Browsing: Climate change
Republican AGs criticize hiring of OCC climate risk officer
In a joint letter Thursday, seventeen Republican state attorneys general said they objected to the appointment of Yue Chen as the OCC’s chief climate risk officer,
Fed announces pilot climate exercise for large banks
The Federal Reserve today said that six of the nation’s largest banks will participate in a pilot climate scenario analysis exercise designed to enhance the ability of supervisors and firms to measure and manage climate-related financial risks.
Banks must be free to make lending decisions, Nichols says during Texas energy tour
ABA President and CEO Rob Nichols last week joined Texas Bankers Association Chairman Ford Sasser and CEO Chris Furlow on a listening tour through Texas to hear from bank leaders and discuss the critical role banks of all sizes play in supporting the state’s energy sector.
OCC names Chen chief climate risk officer
The Office of the Comptroller of the Currency today announced the appointment of Yue Chen as chief climate risk officer.
Hsu: Community banks voice concerns about climate risk regulation
In remarks today, Acting Comptroller of the Currency Michael Hsu said community banks and their state trade associations have raised concerns about the OCC’s supervisory and regulatory actions related to climate change in “every meeting” he has had with them.
Barr signals climate exercises to start in 2023 in debut speech as vice chair for supervision
The Federal Reserve will launch a “pilot micro-prudential scenario analysis exercise” next year “to better assess the long-term, climate-related financial risks facing the largest institutions,” Michael Barr said today in his first speech as Fed vice chairman for supervision.
Greenhouse gas emissions disclosure bill fails in California
A California bill that would have required certain companies to disclose greenhouse gas emissions will not become law after it failed to garner enough votes for passage in the California State Assembly.
How your compliance team can get ready for ESG developments
While some banks might be well positioned to establish a dedicated role or even a team, others may prefer to have a cross-compliance collaboration approach.
Trade groups urge California to delay passage of GHG emissions reporting bill
The American Bankers Association joined the California Bankers Association and two other financial trade groups in a letter to members of the California State Assembly opposing Senate Bill 260, the Climate Corporate Accountability Act, a comprehensive greenhouse gas disclosure bill that is being considered this week.