| Press Release | March 30, 2022 | | FDIC Issues Request for Comment on Statement of Principles for Climate-Related Financial Risk Management for
Large Financial Institutions | | | WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today is requesting public comment on draft principles that would provide a high-level framework for the safe and sound management of exposures to climate-related financial risks. Although all financial institutions, regardless of size, may have material exposures to climate-related financial risks, these draft principles are intended for the largest financial institutions, those with over $100 billion in total consolidated assets. The draft principles were developed to support efforts underway by large financial institutions to consider key aspects of climate-related financial risk management. Weaknesses in how financial institutions identify, measure, monitor, and control the financial risks associated with a changing climate could adversely affect a financial institution's safety and soundness, as well as the overall financial system. The draft principles will help financial institution management make progress toward addressing key questions as they consider incorporating climate-related financial risks into their institutions' risk management frameworks. The FDIC encourages financial institutions to consider climate-related financial risks in a manner that allows them to continue to prudently meet the financial services needs of their communities. The FDIC encourages comments from all interested parties within 60 days of publication in the Federal Register. The FDIC's request for comment is substantively similar to the one issued by the Office of the Comptroller of the Currency on December 16, 2021. Attachments:
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| | | MEDIA CONTACT:
Julianne Fisher Breitbeil
202-340-2043
JBreitbeil@FDIC.gov
FDIC: PR-27-2022
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