Now is the Time to Act: Understanding the OCC’s Initial Climate Change-Related Expectations

Global Financial Markets

Last month, the US Office of the Comptroller of the Currency (OCC) issued a call to action on climate change to the boards of directors of large OCC-regulated banks. Based on that call to action, all bank boards should consider asking their institutions about enhancing climate change-related risk management practices. While this will be a long-term effort that will include further guidance from the agency, it is clear that the OCC expects banks to begin work now and refine their practices over the next year. Please join Mayer Brown partner Paul Forrester and senior associate Matt Bisanz to better understand the OCC’s new expectations for larger banks and how they may be relevant to all US banks.