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ARTICLE · 05 OCTOBER 2022

Climate Scenario Analysis Exercise Announced By US Federal Reserve

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On September 29, 2022, the Board of Governors of the Federal Reserve System ("Federal Reserve") announced that it would conduct a climate scenario analysis exercise with six of the largest US banking organizations.

United StatesFinance and Banking
Matthew Bisanz
Matthew Bisanz
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On September 29, 2022, the Board of Governors of the Federal Reserve System ("Federal Reserve") announced that it would conduct a climate scenario analysis exercise with six of the largest US banking organizations.1 This appears to be similar to, but more involved than, the climate risk management survey that the Office of the Comptroller of the Currency recently conducted with certain large US banks.2 Similar climate scenario analysis exercises have been undertaken by other banking regulators, including in France.3 Also, the Financial Stability Board has recommended climate scenario analysis as a key tool for banks and regulators to address financial risks arising from climate change.4

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