US banking regulators withdraw climate-risk framework, highlighting policy pivot
The Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency jointly announced the withdrawal of their climate-risk principles for large banks, originally issued in 2023. They reasoned existing standards already cover material risks, though critics say the move is politically motivated and raises questions about oversight of climate-related financial risk. The decision was approved by five of seven Fed governors; one dissent warned it may make the system riskier amid growing climate exposures.
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22h ago
US banking regulators withdraw climate-risk framework, highlighting policy pivot
The Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency jointly announced the withdrawal of their climate-risk principles for large banks, originally issued in 2023. They reasoned existing standards already cover material risks, though critics say the move is politically motivated and raises questions about oversight of climate-related financial risk. The decision was approved by five of seven Fed governors; one dissent warned it may make the system riskier amid growing climate exposures.
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US banking regulators withdraw climate-risk framework, highlighting policy pivot
about 23 hours ago
1 min read
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US regulators rescind climate-risk rules for banks, signalling a regulatory shift in financial-risk oversight.
The Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency jointly announced the withdrawal of their climate-risk principles for large banks, originally issued in 2023. They reasoned existing standards already cover material risks, though critics say the move is politically motivated and raises questions about oversight of climate-related financial risk. The decision was approved by five of seven Fed governors; one dissent warned it may make the system riskier amid growing climate exposures.
The Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency jointly announced the withdrawal of their climate-risk principles for large banks, originally issued in 2023. They reasoned existing standards already cover material risks, though critics say the move is politically motivated and raises questions about oversight of climate-related financial risk. The decision was approved by five of seven Fed governors; one dissent warned it may make the system riskier amid growing climate exposures.