Browsing: ESG

Newsbytes

Neither the Federal Housing Finance Agency or the banking industry “currently have the expertise to recommend or make changes to enhance the supervisory and regulatory framework” of Fannie Mae, Freddie Mac and the Federal Home Loan Banks with regard to climate-related factors, ABA said in a letter to FHFA today.

Newsbytes

The Treasury Department today announced a new climate policy strategy intended to “bring to bear the full force of [Treasury] on domestic and international policymaking, leveraging finance and financial risk mitigation to confront the threat of climate change.”

Compliance and Risk

Treasury Secretary Janet Yellen today flagged climate change as the most significant urging risk for the Financial Stability Oversight Council to address, noting that “our financial system must be prepared for the market and credit risks of these climate-related events.”

Compliance and Risk

A group of Republican senators this week cautioned Federal Reserve Chairman Jerome Powell that using financial regulation and supervision to advance environmental policy objectives “would be beyond the scope of the Federal Reserve’s mission,” and urged against taking additional actions with regard to climate-related risks.

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