US regulator probes banks’ climate risk planning | Reuters News Agency

Business & FinanceEconomy

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

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