Powell: Fed Weighing Pros and Cons of Digital Dollar
The Federal Reserve is “looking very carefully” at whether and how it might issue a digital dollar, Fed Chairman Jerome Powell told members of Congress today.
Browsing: Climate change
Amid Rising Uncertainty, a Path Forward
A look at ABA’s government relations agenda for 2021
Climate Risk: Greenhouse Gas Disclosures Could Take Years
Climate risk disclosures appear to be on the horizon, but full compliance could take time.
Fed’s Brainard Supports Mandatory Disclosures to Manage Climate Risk
Speaking at an industry event today, Federal Reserve Governor Lael Brainard expressed support for mandatory climate disclosures to help measure and mitigate climate risk.
Industry Coalition Releases Principles for Transitioning to Low-Carbon Economy
The American Bankers Association today joined 10 other financial trade associations in releasing a set of principles intended to provide a framework for financing the transition to a low-carbon economy.
NYDFS: Climate Change Mitigation Activities May Qualify for State CRA Credit
In a letter to industry earlier this week, the New York Department of Financial Services confirmed that banks may receive credit under New York’s state-level Community Reinvestment Act for certain activities intended to address and mitigate the effects of climate change.
Fed Research Paper Flags Climate Change as Source of Financial Risk
Financial regulators—including the Federal Reserve—are moving to incorporate climate risk assessments in their supervisory activities, according to a new research letter published today by the Federal Reserve Bank of San Francisco.
FHFA Issues RFI on Managing Climate, Natural Disaster Risk
The Federal Housing Finance Agency today issued a request for input seeking feedback on how climate change and natural disasters could pose risks to the housing finance system, Fannie Mae and Freddie Mac and the Federal Home Loan Banks.
Fed’s Brainard Highlights Need to Understand, Manage Climate Change Risk
Speaking at a virtual industry event today, Federal Reserve Board Governor Lael Brainard highlighted the need to understand risks related to climate change, noting that it is “vitally important to strengthen the U.S. financial system” to meet this challenge.
FSB Report Highlights Climate-Related Risks
A new report from the Financial Stability Board today highlighted the potential implications of climate change for financial stability.