US climate guidance stokes debate over defining material risks
Banks welcome flexibility, but it could lead to big divergence on climate risk management
New US regulatory guidance on climate risks could still leave room for wide divergence on risk measurement and management, according to experts.
“They’ve left it fairly open as to exactly how the capital impact should be incorporated, and they’ve left it to the banks to determine those rare cases where there’s a significant expected short-term loss,” says the head of climate risk at a global bank.
The Office of the Comptroller of the Currency (OCC), Federal Reserve and Federal Deposit Insurance
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