OCC Presages Additional Climate-Risk Guidance
Although it intends to issue climate-risk guidance for big banks by year-end, the OCC today also solicited academic papers and policy research on climate risk in banking and finance for a June 2022 meeting. The scope of the inquiry suggests that the agency is exploring an array of matters well beyond its near-term guidance that may well cover all federal charters, but timing also suggests that these more sweeping requirements will be considered in the second half of 2022. Submissions are specifically requested on physical and transition risks, climate’s impact on different communities, climate risk modeling and stress testing, and ESG ratings and regulatory reliance; these are due March 11.
Gensler Expands on Crypto Risk, GSE Status
Although Senate Banking Ranking Member Toomey (R-PA) thought his answers inadequate, SEC Chairman Gensler’s response to a series of questions sheds light on the SEC’s continuing plans to cast a wide regulatory and enforcement net over cryptography.