The Office of the Comptroller of the Currency (OCC) announced that it has formally withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), effective immediately. Acting Comptroller Rodney E. Hood said the OCC’s primary mission is to ensure the safety, soundness, and fairness of national banks and federal savings associations, and that participation in the NGFS extends beyond the OCC’s statutory responsibilities and does not align with its regulatory mandate. The statement also noted that while severe weather events may be a broader societal concern, they do not fall within the OCC’s statutory mandate, and the agency will focus on fulfilling its core mission.
Office of the Comptroller of the Currency 2025-02-11
Office of the Comptroller of the Currency withdraws from the Network of Central Banks and Supervisors for Greening the Financial System with immediate effect
The Office of the Comptroller of the Currency (OCC) has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Acting Comptroller Rodney E. Hood stated that participation in the NGFS exceeds the OCC's statutory responsibilities and does not align with its regulatory mandate. The OCC will focus on its core mission of ensuring the safety, soundness, and fairness of national banks and federal savings associations.