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New Guidance Climate Change Financial Institutions

Mintz

California Issues Additional Guidance Concerning Mandatory Climate Disclosures

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Last week, the California Air Resources Board ("CARB")--the agency responsible for implementing California's mandatory climate disclosures--issued additional guidance concerning these regulations. Significantly, although...more

Ballard Spahr LLP

New York DFS Issues Guidance on Climate Change Risks for Financial Institutions

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On December 21, 2023, the New York Department of Financial Services (“DFS”) published guidance (the Guidance) to assist regulated institutions in assessing and managing their climate-related financial and operational risks....more

Latham & Watkins LLP

OCC, FRB, and FDIC Finalize Joint Principles for Climate-Related Financial Risk Management

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Guidance for the largest US financial institutions is intended to promote climate risk management consistent with general safety and soundness practices. On October 30, 2023, the three US federal bank regulatory agencies...more

Holland & Knight LLP

Agency Guidelines Confirm That Climate-Related Financial Risk Is Real

Holland & Knight LLP on

The U.S. Department of the Treasury's Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board) and the Federal Deposit Insurance Corp. (FDIC) (collectively, the Agencies) on...more

Goodwin

FinCEN Proposes Form of Report to Collect Beneficial Ownership Information and Application to Obtain FinCEN Identifiers

Goodwin on

Regulatory Developments - FinCEN Proposes Form of Report to Collect Beneficial Ownership Information and Application to Obtain FinCEN Identifiers - On January 17, FinCEN proposed a form of report to collect beneficial...more

Latham & Watkins LLP

NYDFS Proposes Guidance on Climate Change Risk Management

Latham & Watkins LLP on

The Guidance would increase expectations for regulated financial institutions to identify, measure, monitor, and control climate-related financial risks. For the past few years, the New York State Department of Financial...more

Goodwin

FDIC Requests Comments to Draft Principles for Climate-Related Financial Risk Management

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) requested comments to draft principles for climate-related financial risk management; the U.S. Securities and Exchange Commission (SEC) published its 2022 exam...more

Jones Day

JONES DAY TALKS®: Financial Regulators and Asset Managers Warm to Acknowledging Climate Risks

Jones Day on

Jones Day partners Lanier Saperstein and Jay Tambe talk about The New York Department of Financial Services' recent guidance on Climate Change and Financial Risks, and BlackRock CEO Larry Fink's annual January letter to...more

King & Spalding

NY Department of Financial Services Statement on Climate Change: Implications for the Financial Sector

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State regulatory statements and guidelines for climate change readiness are emerging independent of federal government action. As climate change is not just about future impacts, financial institutions are compelled to...more

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