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OCC ends climate risk guidance for large banks

Summary by ESG Dive

The Office of the Comptroller of Currency withdrew guidance to help financial institutions managing over $100 billion in total assets identify and manage financial risks related to climate change.

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ESG Dive

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OCC ends climate risk guidance for large banks

The Office of the Comptroller of Currency withdrew guidance to help financial institutions managing over $100 billion in total assets identify and manage financial risks related to climate change.

3 days ago

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LexBlog

Federal Banking Agencies Announce Intent to Rescind 2023 Community Reinvestment Act Final Rule

On March 28, the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (together, the federal banking agencies) announced their intent to rescind the 2023 Community Reinvestment Act (CRA) final rule and reinstate the previous CRA framework. This decision comes in light of pending litigation in the Fifth Circuit by various banking trade associations contesting the rules by…

2 days ago

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Americans for Financial Reform

News Release: OCC’s Retreat on Climate Risk at Odds with Economic Reality - Americans for Financial Reform

Today, the Office of the Comptroller of the Currency (OCC) announced its withdrawal from participation in the interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions. The climate principles covered large banks with over $100 billion in assets and were released jointly in 2023 by all three federal bank regulators: the OCC, the Federal Reserve Board, and the Federal Deposit Insurance Corporation (FDIC)…

2 days ago

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American Banker

OCC ends consideration of climate-related financial risks

The Office of the Comptroller of the Currency said it would cease its participation in interagency principles for regulating climate-related risks at the banks it regulates.

2 days ago

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Wealth DFM

LCP: Investment managers shouldn’t neglect to tackle systemic risks as political landscape changes - Wealth DFM

Investment managers shouldn’t neglect responsible investment and tackling systemic risk such as climate change according to LCP, as they issue new best practice principles on how managers can use their considerable leverage to combat these risks. The principles will help asset owners discuss systemic stewardship with managers and encourage improvements where manager approaches fall short of their expectations. Systemic stewardship describes act…

3 days ago

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