US to Call on Regulators to Downgrade Climate Risk Project: FT

Four US regulators will on Monday propose to dilute the task force set up by the Basel Committee on Banking Supervision, the Financial Times reports, citing three unidentified people briefed on the matter.

• Task force was set up in 2020 to examine climate change risks to the financial system: FT
• US regulators on the Basel committee - the Fed, the New York Fed, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation - will call for the downgrade to a working group, according to two of the people
• The Basel committee, the Fed, the OCC, ...