With regulatory scrutiny of climate change-related risks growing, Federal Reserve Governor Lael Brainard promised today that the Fed’s climate risk supervision will not include directives for banks not to lend to specific industries like oil and gas.
As the Federal Reserve ramps up its post-COVID-19 examination program, Fed Governor Michelle Bowman said in a speech today, examiners’ “initial focus will be to assess higher risk banks, particularly those with credit concentrations in higher risk or stressed industries.”
The OCC will take a “serious look” at certain bank decisions not to lend to oil and gas projects in the Arctic, Acting Comptroller of the Currency Brian Brooks said in a letter to Sen. Dan Sullivan (R-Alaska) last week.
Stubbornly low prices in response to global trends and suppressed demand from COVID-19 will harm oil and gas businesses, workers and communities.
As it marks its centennial, North Dakota’s public bank does its work through private-sector partnerships.
“If you’re in Midland, Texas, you’re in the oil business,” says Jay Isaacs. “It doesn’t matter if you have a doughnut shop or a dry cleaners.”
Community banks exposed to the oil and gas business tended to weather the recent downturn in oil prices well, according to research released in the FDIC’s Supervisory Insights publication today.
The latest episode of the ABA Banking Journal Podcast, sponsored by Velocity Solutions, takes listeners to the “busiest place in the entire country” when it comes to oil, as Jay Jenkins describes his hometown of Carlsbad, N.M. The boomtown — located in the heart of the oil-rich Delaware Basin, which is part of the broader
Credit risk in large, syndicated loans of more than $20 million dipped slightly but remains high for this phase of an economic expansion, according to the interagency Shared National Credits Review released today.
Total loan balances at FDIC-insured banks grew 6.8 percent between September 2015 and September 2016, with considerable growth occurring in commercial real estate, agricultural, and oil and gas lending portfolios, the agency said in the winter issue of its Supervisory Insights publication released today.