FDIC lookback: banking conditions improved in 2021
The FDIC today said that the banking environment improved in 2021 as the economy recovered from a period of economic hardship the year prior.
Browsing: Climate change
Barr: Fed’s authority ‘Narrow, limited’ regarding transition to low-carbon economy
Testifying before the Senate Banking Committee, Michael Barr—President Biden’s nominee to serve as Federal Reserve vice chairman for supervision—said that the “Fed’s authorities are quite limited [and] narrow” with regard to accelerating the transition to a lower carbon economy.
When climate risk comes home
Community banks in oil and gas towns grapple with the future of climate risk supervision.
Understanding key ESG concepts: a glossary
ESG? Fair access? Transition risk? Sustainable investing? Find out what these and more mean exactly.
Podcast: Understanding the SEC’s climate risk disclosure proposal
Public comments for the Securities and Exchange Commission’s sweeping climate risk disclosure proposal are due on June 17, with major implications for banks and their clients. ABA’s Mike Gullette and Joe Pigg dig into the details.
FHFA joins NGFS
The Federal Housing Finance Agency has become a member of the Network of Central Banks and Supervisors for Greening the Financial System. FHFA is highlighting the increasing risk to property from climate change, including severe structural damage caused by hurricanes, tornadoes, floods, droughts and wildfires.
ABA to DOL: ERISA affords retirement savings sufficient protections from climate-related financial risk
In a comment letter responding to a Labor Department request for information, ABA said it is not necessary for the agency to take any regulatory action related to climate-related financial risk or other risks associated with climate change.
SEC to extend comment period for proposed climate disclosure rule
The Securities and Exchange Commission today said that it would extend the comment period for its recently proposed climate disclosure rule from May 20 until June 17.
FSB floats recommendations for climate risk reporting
As regulators around the globe work to develop frameworks for measuring and mitigating climate-related risks, the Financial Stability Board published recommendations for the reporting and collection of climate-related financial data.
FDIC Issues Draft Principles on Climate Risk Management
The FDIC today released for comment a set of draft principles to guide a framework for climate risk management for banks with more than $100 billion in total consolidated assets.