ABA President and CEO Rob Nichols last week joined Texas Bankers Association Chairman Ford Sasser and CEO Chris Furlow on a listening tour through Texas to hear from bank leaders and discuss the critical role banks of all sizes play in supporting the state’s energy sector.
Community banks in oil and gas towns grapple with the future of climate risk supervision.
McWilliams discusses several policy aspects of her tenure at the FDIC, including climate risk, small-dollar lending, CRA reform and the Mission-Driven Bank Fund.
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.