OCC Urges Banks To Prepare For Imminent Guide On Climate Finance Risks

The Office of the Comptroller of the Currency (OCC), a key federal banking regulator, is urging banks’ directors to question executives on how their institutions are assessing and addressing any climate-related financial risks as the office is poised to become the first U.S financial regulator to issue supervisory guidance on climate change’s financial risks. By the end of the year, OCC will issue guidance for how it will integrate climate change risks into its consideration of big banks, Acting Comptroller...