Office of the Comptroller of the Currency

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Climate-Related Risk Management Principles Released by US Banking Regulator

By J. Paul Forrester, Andrew J. Olmem, Megan Webster, Jeffrey P. Taft, Matthew Bisanz & Kerri Webb on December 22, 2021

Posted in Environmental, Regulation, Risk Management, The Americas

On December 16, 2021, the US Office of the Comptroller of the Currency (OCC) released draft principles for managing exposures to climate-related financial risks (Climate Principles). The OCC regulates national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.

The Climate Principles are targeted at banks with…

Initial Climate Change Risk Management Expectations Issued by US OCC

By J. Paul Forrester, Megan Webster, Jeffrey P. Taft & Matthew Bisanz on November 17, 2021

Posted in Environmental, Governance, Regulation, Risk Management, The Americas

On November 8, 2021, the acting head of the Office of the Comptroller of the Currency (OCC), Michael J. Hsu, issued a call to action on climate change to the boards of directors of OCC-regulated banks. Specifically, he outlined an initial series of climate change-related questions that boards should be asking bank management…