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Risk Management Climate Change Financial Regulatory Reform

A&O Shearman

FSB chair letter on global outlook and priorities

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The Financial Stability Board (FSB) has published a letter from Andrew Bailey, Governor of the Bank of England, who was appointed chair of the FSB from 1 July. In the letter, the chair confirms his commitment to the FSB's...more

A&O Shearman

GHOS Meeting: Basel III implementation and climate-related financial risks

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The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BIS), met to discuss the implementation of Basel III and its work on climate-related...more

A&O Shearman

PRA consults on updated supervisory expectations to manage climate-related risks

A&O Shearman on

The Prudential Regulation Authority (PRA) has issued a consultation paper (CP10/25) and draft updates to the supervisory statement 3/19. The consultation aims to enhance supervisory expectations on the management of...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Climate Change Financial Risk Act of 2025: U.S. Senate Legislation Introduced Directing the Federal Reserve to Address Financial...

United States Senator Brian Schatz (Hawaii) has introduced legislation titled: Climate Change Financial Risk Act of 2025 (“Act”). The Act directs the United States Federal Reserve to conduct stress tests on large...more

A&O Shearman

FSB Chair Letter to G20 Finance Ministers

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The Financial Stability Board (FSB) has published a letter, along with a press release and webpage, from its Chair, Klaas Knot, to G20 finance ministers and central bank governors ahead of their meeting on 23-24 April. The...more

Mayer Brown

OCC Withdraws Climate Risk Management Principles

Mayer Brown on

On March 31, 2025, the Office of the Comptroller of the Currency withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions (the “Climate...more

Orrick, Herrington & Sutcliffe LLP

Fed Member Bowman discusses challenges to mutual and community banks

On January 31, Fed Member Michelle Bowman addressed challenges faced by mutual banks and community banks at a New England CEO summit. Bowman provided a brief update on the state of the U.S. economy, including the rate of...more

Troutman Pepper Locke

NCUA’s New Board Chairman Hauptman Outlines His Priorities for Agency

Troutman Pepper Locke on

This week, President Trump designated National Credit Union Administration (NCUA) Vice Chairman Kyle Hauptman as the thirteenth Chairman of the NCUA Board. Hauptman succeeds Todd Harper as NCUA Chairman. In the press release...more

A&O Shearman

UK Climate Financial Risk Forum Publishes Guides on Climate Risk

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The U.K. Climate Financial Risk Forum (CFRF) has published three guides to help the financial sector develop its approach to climate-related financial risks and opportunities...more

White & Case LLP

Mandatory climate-related financial disclosures proposed for Australia

White & Case LLP on

Following two rounds of consultation, the Australian Government has released an exposure draft of the Treasury Laws Amendment Bill 2024: Climate related financial disclosure (Draft Bill) which would introduce mandatory,...more

Cadwalader, Wickersham & Taft LLP

Federal Reserve Announces Pilot Climate Scenario Analysis Exercise Details

Last week, the Federal Reserve Board (FRB) announced additional details on its pilot climate scenario analysis (CSA) involving six of the largest U.S. banks. The additional details include a Participant Instructions Document...more

Cadwalader, Wickersham & Taft LLP

Basel Committee Issues Principles on Management and Supervision of Climate-Related Financial Risks

On June 15, the Basel Committee on Banking Supervision (“BCBS”) issued its Principles for the effective management and supervision of climate-related financial risks (the “Principles”). In its release, the BCBS stated that it...more

Goodwin

SEC Adopts Broad Exempt Offering Reforms

Goodwin on

In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

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