Aggregated News From Investment Management Regulators

OCC Seeks Feedback on Principles for Climate-Related Financial Risk Management for Large Banks

Report/Flag

Please complete the required fields.



The Office of the Comptroller of the Currency (OCC) today requested feedback on draft principles designed to support the identification and management of climate-related financial risks at OCC-regulated institutions with more than $100 billion in total consolidated assets. The OCC will use this feedback to inform any future guidance with respect to climate-related financial risk.

Weaknesses in how banks identify, measure, monitor, and control potential climate-related financial risks could adversely affect banks’ safety and soundness, as well as the overall financial system. The principles provide large banks with a high-level framework for the safe and sound management of exposures to climate-related financial risks consistent with existing OCC rules and guidance.

“Today’s release takes an important, concrete step towards ensuring the safety and soundness of large banks in the face of increasing risks from climate change,” said Acting Comptroller of the Currency Michael J. Hsu. “We look forward to the feedback and to working with our interagency peers to develop more detailed guidance next year.”

Interested parties may submit feedback on the draft principles and the included questions through February 14, 2022.

Related Links

This news item was originally published by the Office of the Comptroller of the Currency (OCC US). For more information, see the Source Link.

Regulator Information

Abbreviation: OCC
Jurisdiction: United States

Recent Articles

Sanctions Notice – Myanmar — GFSC

Please be advised that the following individuals and entities: Win Kyaw Kyaw Aung Zaw Min Tun Asia Sun Trading Company Limited Cargo Link Company Limited have been designated under the Myanmar (San

Sanctions Notice – ISIL (DA’ESH) and AL-QAIDA — GFSC

Please be advised that Islamic State in Iraq and the Levant in South-East Asia has been designated under the ISIL (Da’esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulati

SFDR data collection exercise for investment fund managers (IFMs) on regulatory requirements in relation to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial...

1. Context This Communiqué follows up on the CSSF communiqué published on 27 July 2022 announcing the intention of the CSSF to launch a data collection exercise...

EARNEASYMONEY

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

CVM accepts proposal for a term of commitment with the CEO of Clear Sale SA

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content...

Get the latest from Regulatory.News in your inbox!

×