This year’s spring report presents data in five main areas: operations, bank performance, special topics, trends in key risks and supervisory actions.
Browsing: Risk management
While expressing overall support for the FDIC’s Statement of Principles for Climate-Related Financial Risk Management for Large Financial Institutions, ABA today emphasized the need for a “flexible and iterative, principles-based approach” until the data and methodologies for understanding climate-related financial risk are more fully developed.
As high inflation and economic uncertainties persist, Acting Comptroller of the Currency Michael Hsu said that “now is the time for banks to take a fresh look at their exposures and take actions to adjust their risk positions—to ‘trim their sails,’ so to speak—ahead of potential uncertainty and volatility.”
Community banks in oil and gas towns grapple with the future of climate risk supervision.
Public comments for the Securities and Exchange Commission’s sweeping climate risk disclosure proposal are due on June 17, with major implications for banks and their clients. ABA’s Mike Gullette and Joe Pigg dig into the details.
The banking sector is among the most prepared industries to combat fraud, corruption and illicit activity, according to a recent report.
ABA to DOL: ERISA affords retirement savings sufficient protections from climate-related financial risk
In a comment letter responding to a Labor Department request for information, ABA said it is not necessary for the agency to take any regulatory action related to climate-related financial risk or other risks associated with climate change.
The Securities and Exchange Commission today said that it would extend the comment period for its recently proposed climate disclosure rule from May 20 until June 17.
The reference guide, created by NACHA’s Payments Innovation Alliance, provides background on the importance of terms and conditions when offering voice payments services and how terms may be modified to suit different needs.
As regulators around the globe work to develop frameworks for measuring and mitigating climate-related risks, the Financial Stability Board published recommendations for the reporting and collection of climate-related financial data.