Big Bank Climate Risk Guidance to Be Issued by Comptroller

The Office of the Comptroller of the Currency, a top federal bank regulator, plans to propose guidance on how large national banks should manage climate change risks in their operations.

The agency is developing “high-level climate risk management supervisory expectations” for large banks that will be released for comment by the end of the year, Acting Comptroller of the Currency Michael Hsu said in a statement Wednesday.

The expectations will set a baseline for banks as they review the potential impact that increasing floods, wildfires and other natural disasters pose to their operations.

“I have prioritized the need to incorporate ...