The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency announced they are withdrawing the interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions, rescinding the principles with immediate effect. The agencies said additional climate-related risk management principles are not necessary because existing safety and soundness standards already require supervised institutions to maintain effective risk management commensurate with their size, complexity and activities, and to consider and address all material financial risks, including emerging risks. The interagency principles were originally issued in October 2023, and the OCC had withdrawn its participation earlier in 2025. A notice rescinding the principles will be published in the Federal Register.
Federal Reserve Board 2025-10-16
Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency withdraw interagency climate-related financial risk management principles for large institutions
The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency have withdrawn the interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions. The agencies concluded that existing safety and soundness standards sufficiently address risk management needs, including emerging risks. A notice of rescission will be published in the Federal Register.