Agencies Issue Principles for Climate-Related Financial Risk Management for Large Financial Institutions

Federal bank regulatory agencies today jointly finalized principles that provide a high-level framework for the safe and sound management of exposures to climate-related financial risks for large financial institutions. The principles are consistent with the risk management framework described in the agencies’ existing rules and guidance. The principles are intended for the largest financial institutions, […]

Acting Comptroller Issues Statement at Financial Stability Oversight Council Meeting on Climate-Related Financial Risk

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following at the Financial Stability Oversight Council (FSOC) meeting: Thank you, Madam Secretary, for your strong leadership of the Council including on this important matter. I would also like to extend my thanks to the FSOC staff and the staff of the Council members […]

Senior Deputy Comptroller for Large Bank Supervision Testifies on Climate-Related Financial Risks

WASHINGTON—Office of the Comptroller of the Currency (OCC) Senior Deputy Comptroller for Large Bank Supervision Greg Coleman today testified before the U.S. House of Representatives’ Committee on Financial Services’ Subcommittee on Financial Institutions and Monetary Policy on the agency’s supervision of climate-related financial risks. In his testimony, Mr. Coleman discussed the OCC’s supervision activities at […]