The Office of the Comptroller of the Currency (OCC) withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions, removing OCC support for that set of supervisory guidance. Acting Comptroller Rodney E. Hood described the principles as overly burdensome and duplicative, pointing to existing OCC guidance requiring supervised institutions to maintain sound risk management frameworks that cover relevant exposures, including severe weather events and natural disasters. The OCC reiterated that all banks are expected to have effective risk management processes commensurate with their size, complexity, and the risks of their activities.
Office of the Comptroller of the Currency 2025-03-31
United States Office of the Comptroller of the Currency withdraws from interagency principles on climate-related financial risk management for large banks
The Office of the Comptroller of the Currency (OCC) has withdrawn from the interagency principles for climate-related financial risk management for large financial institutions, citing them as overly burdensome and duplicative. Acting Comptroller Rodney E. Hood emphasized existing OCC guidance already mandates sound risk management frameworks. The OCC maintains that banks must have effective risk management processes aligned with their size, complexity, and risk profile.