November 12, 2020

DID DONALD EVER EXIST?:

The Fed is set to take on a new challenge: climate change (Jeff Cox, 11/12/20, CNBC)

The Federal Reserve is going green, and that could mean a substantial change for the way financial institutions have to prepare for the unexpected.

In recent days, several central bank officials have spoken about the importance of taking climate change into effect when considering dangers posed to the system. Along with that, the Fed's financial stability report, which usually talks about how economic and market forces could impact banks, insurance companies and other firms, mentioned climate for the first time. [...]

"Federal Reserve supervisors expect banks to have systems in place that appropriately identify, measure, control, and monitor all of their material risks, which for many banks are likely to extend to climate risks," the financial stability report said.

Posted by at November 12, 2020 12:00 AM

  

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