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U.S. banking regulator solicits feedback on monitoring climate change risk -Breaking

by Mike Robinson

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WASHINGTON, (Reuters) – A top U.S. regulator announced that it is seeking feedback from the public on how banks can best protect themselves against climate-related financial risks.

Draft supervisory principles were proposed by the Office of the Comptroller of the Currency for banks that have assets exceeding $100 billion. These would require banks to make sure their leadership is weighing the impacts of climate change on the portfolios they hold. In a statement, the Federal Reserve stated that it will also review the feedback received and work with OCC to develop consistent supervision standards.

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