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Higher Bank Capital Rules for Climate ‘Premature’: Yellen

US
  • *YELLEN SAYS HIGHER BANK CAPITAL RULES FOR CLIMATE ‘PREMATURE’ (BBG)
  • *YELLEN URGES REGULATORS TO EVALUATE IMPACT OF CLIMATE CHANGE (BBG)
  • *YELLEN SAYS REGULATORS MUST DO `GROUNDWORK’ TO EVALUATE RISKS (BBG)
  • From the report:
  • Treasury Secretary Janet Yellen said it’s too early to contemplate adjusting capital requirements for U.S. banks based on how much risk they face from climate change.
  • How regulators incorporate climate risks into the safety and soundness rules they enforce on the largest financial institutions has become an increasingly contentious debate in Washington.
    • Some Democrats have pushed for a much more aggressive approach that looks not only to protect financial stability but also to speed the economy’s transition toward clean energy. (Bloomberg)

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