Federal Reserve Board – Federal Reserve Board releases summary of the

social default image opengraph


Please enable JavaScript if it is disabled in your browser or access the information through the links provided below.

May 09, 2024

Federal Reserve Board releases summary of the exploratory pilot Climate Scenario Analysis (CSA) exercise that it conducted with six of the nation’s largest banks

For release at 4:00 p.m. EDT

The Federal Reserve Board on Thursday released a summary of the exploratory pilot Climate Scenario Analysis (CSA) exercise that it conducted with six of the nation’s largest banks.

The summary describes how these banks are using climate scenario analysis to explore the resiliency of their business models to climate-related financial risks. Participating banks took a wide range of approaches in this exercise to consider the possible implications of different physical and transition risk scenarios. The exercise highlighted data gaps and modeling challenges that arise when estimating the financial impacts of highly complex and uncertain risks over various time horizons.

The banks that participated in the exercise were Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo.

The exercise was exploratory in nature and does not have capital consequences. Drawing on lessons learned from the exercise, the Board will continue to engage with participating banks regarding their capacity to measure and manage climate-related financial risks.

For media inquiries, please email [email protected] or call 202-452-2955.

Last Update:
May 09, 2024



This article was originally published by a www.federalreserve.gov

Read it HERE

Share

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

x  Powerful Protection for WordPress, from Shield Security
This Site Is Protected By
Shield Security