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ARTICLE · 09 APRIL 2025

OCC Withdraws From Interagency Guidance On Climate Risk

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On March 31, 2025, the Office of the Comptroller of the Currency (OCC) announced that it would be withdrawing from an interagency rule related to climate-related financial risk.

United StatesFinance and Banking
Benjamin Saul
Benjamin Saul
Vito Arethusa
Vito Arethusa

On March 31, 2025, the Office of the Comptroller of the Currency (OCC) announced that it would be withdrawing from an interagency rule related to climate-related financial risk.1 This rule was originally released in October 2023 in collaboration with the Federal Deposit Insurance Corporation (FDIC) and the Board of Governors of the Federal Reserve System (FRB).2In the accompanying press release, Acting Comptroller of the Currency Rodney E. Hood described the principles as "overly burdensome and duplicative" while noting that "existing guidance for banks to maintain a sound risk management framework . . . includes potential exposures to severe weather events or natural disasters."3 The OCC press release did not specify which provisions he considered duplicative. Subsequently, the OCC removed its web page dedicated to climate-related financial risks.

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