OCC seeks feedback on climate principles for large banks

The OCC requested feedback on draft principles designed to help identify and manage climate-related financial risks at OCC-supervised institutions with more than $100 billion in assets.

Details: The OCC said it will use feedback to inform any future guidance on climate-related financial risk. Comments are due by Feb. 14.

ICBA Position: While the proposed principles are targeted to larger banks, ICBA is concerned they could ultimately apply to community banks and will be providing comments.

FSOC Letter: ICBA recently called on the Financial Stability Oversight Council to ensure the community bank perspective is adequately represented in the development of any climate-related financial risk guidance.

Position Paper: ICBA separately released a position paper on the potential impact of new climate change regulations on community banks.