Browsing: Climate change

Newsbytes Powell: Federal Reserve not ‘climate policymaker’

Barring congressional action, it would be inappropriate for the Federal Reserve to use monetary policy or supervisory tools to promote a greener economy or achieve other climate-based goals, Fed Chairman Jerome Powell said this week.

Newsbytes Regulators say climate stress tests not about capital

Federal efforts to gauge how well large banks are prepared to handle climate change risks will differ from traditional stress tests in that they are not about capital, representatives from the Office of the Comptroller of the Currency and Federal Housing Finance Agency said Tuesday.

Newsbytes Financial regulators pressed on climate change focus

Acknowledging that the FDIC does not currently incorporate the financial risk of climate change into its supervisory program, Acting Chairman Martin Gruenberg said today the agency needs to “clearly communicate” what its intentions are as it begins to explore those risks.

Compliance and Risk FSB report warns of rising financial stability risk

The current environment of swiftly rising interest rates, combined with tighter financial conditions, greater market volatility and slowing global growth “could test many of the long-standing and growing vulnerabilities in the global financial system,” the Financial Stability Board said.

Newsbytes Report: Better data needed for climate risk disclosure

A new report released today by the Financial Stability Board encouraged regulatory authorities to expand the use of climate scenario analysis and stress tests for financial institutions, although it acknowledged that more data was needed to develop such policies.

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