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Republican congressmen question Fed, FDIC membership of NGFS

Fed must address climate 'elephant in the room'

Extent of Fed's future focus on climate 'hinges on' US election

The likelihood of a follow-up climate scenario analysis or even a first stress test exercise by the Federal Reserve could hinge largely on the outcome of the US federal election in November, a consultant has predicted.

US banks lament data gaps in first Fed climate scenario analysis

The Federal Reserve's first climate scenario analysis of the country's six largest banks exposed widespread data gaps that threaten to undermine the accurate assessment of climate-related risks.

US climate finance principles published by regulators - but two Fed governors refuse to sign

The main banking and financial services regulators in the US have agreed principles on how to manage climate risk - but they resisted calls to promote the transition to a lower carbon economy, as the controversial document caused a rift within the Federal Reserve.

Climate change does not pose serious risk to financial stability, says Fed governor

Climate change does not pose a serious risk to large banks or the financial stability of the US, a governor at the US Federal Reserve has said.

NY Fed: US bank transition risk exposure 'meaningful, but manageable'

Research by the New York Federal Reserve said that US banks have a "meaningful" but "not very large" exposure to climate transition risk in their loan portfolios, with even the most severe scenarios impacting no more than 16% of their loan books.

First US central bank-led climate analysis to assess risks to real estate

The six largest US banks are to study the exposure of their real estate portfolios to physical risks posed by climate change, in the country's first climate scenario analysis exercise led by the Federal Reserve Board.

US central bank will not be a 'climate policymaker', chair says

The US central bank should not address climate change unless it is given a specific mandate to do so, US Federal Reserve chair Jerome Powell has said.

Underestimating climate risks could threaten banking system, says Federal Reserve

"Much work lies ahead" for large banks on measuring climate risk and Scope 3 emissions, with inadequate assessment of climate risks posing a potential threat to the banking system,...