Fed governor anticipates new guidance on climate change for big banks

Read the full story at CNBC.

Federal Reserve Governor Lael Brainard on Thursday said the Fed is developing scenario analysis tools to model the economic risks of climate change and assess the resilience of the entire financial system. She signaled the central bank will provide supervisory guidance on climate change to help banks mitigate their exposure.

The move to develop climate scenarios puts the Fed more in line with what other major central banks are doing, including the European Central Bank and the Bank of England.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: