US regulator probes banks’ climate risk planning | Reuters News Agency
Business & FinanceEconomy
14 December 2023, 4:50 am 1 minute
Reuters was first to report that the U.S. Treasury Department’s Office of the Comptroller of the Currency (OCC) carried out its first climate risk assessment of more than two dozen banks in recent months, laying the groundwork for heightened scrutiny of Wall Street’s accounting for such threats, people familiar with the matter said.
Market Impact
The exams shed light on how the OCC plans to implement guidance on climate risk for banks with more than $100 billion in assets, which it issued in October together with the Federal Reserve and the Federal Deposit Insurance Corporation. More than 30 banks meet this threshold, according to the latest OCC data available on its website.
Article Tags
Topics of Interest: Business & FinanceEconomy
Type: Reuters Best
Sectors: Financial Services
Regions: Americas
Countries: US
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
