Notice2025-20213
Rescission of Principles for Climate-Related Financial Risk Management for Large Financial Institutions
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 18, 2025
Issuing agencies
Treasury DepartmentComptroller of the CurrencyFederal Reserve SystemFederal Deposit Insurance Corporation
Abstract
The Office of the Comptroller of the Currency, Treasury (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) are rescinding the interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions.
Full Text
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<title>Federal Register, Volume 90 Issue 220 (Tuesday, November 18, 2025)</title>
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[Federal Register Volume 90, Number 220 (Tuesday, November 18, 2025)]
[Notices]
[Pages 51756-51757]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-20213]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
[Docket ID OCC-2022-0023]
FEDERAL RESERVE SYSTEM
[Docket No. OP-1793]
FEDERAL DEPOSIT INSURANCE CORPORATION
RIN 3064-ZA32
Rescission of Principles for Climate-Related Financial Risk
Management for Large Financial Institutions
AGENCY: Office of the Comptroller of the Currency, Treasury, Board of
Governors of the Federal Reserve System, and Federal Deposit Insurance
Corporation.
ACTION: Rescission of final interagency guidance.
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SUMMARY: The Office of the Comptroller of the Currency, Treasury (OCC),
the Board of Governors of the Federal Reserve System (Board), and the
Federal Deposit Insurance Corporation (FDIC) (collectively, the
agencies) are rescinding the interagency Principles for Climate-Related
Financial Risk Management for Large Financial Institutions.
DATES: The interagency guidance published at 88 FR 74183 (October 30,
2023) is rescinded as of November 18, 2025.
FOR FURTHER INFORMATION CONTACT:
OCC: Russell D'Costa, Program Analyst, Office of the Chief National
Bank Examiner, (202) 649-8283; Melissa Love-Greenfield, Deputy
Comptroller for Systemic Risk Identification and Support, Office of the
Chief National Bank Examiner; Madelyn Tynan, Counsel, Chief Counsel's
Office, (202) 649-5490, Office of the Comptroller of the Currency, 400
7th Street SW, Washington, DC 20219. If you are deaf, hard of hearing,
or have a speech disability, please dial 7-1-1 to access
telecommunications relay services.
Board: Anna Lee Hewko, Associate Director, (202) 250-1577, Division
of Supervision and Regulation; Asad Kudiya, Associate General Counsel,
(202) 475-6358, Legal Division, Board of Governors of the Federal
Reserve System, 20th Street and Constitution Avenue NW, Washington, DC
20551.
FDIC: Andrew Carayiannis, Chief, Policy and Risk Analytics Section;
Lauren Brown, Senior Policy Analyst, Capital Markets and Accounting
Policy Branch, Division of Risk Management Supervision; Karlyn Hunter,
Counsel, Legal Division; (202) 898-6888; Federal Deposit Insurance
Corporation, 3701 Fairfax Drive, Arlington, VA 22203.
SUPPLEMENTARY INFORMATION:
I. Background
On October 30, 2023, after issuing separate requests for
comment,\1\ the agencies jointly issued Principles for Climate-Related
Financial Risk Management (principles).\2\ These principles were
intended for financial institutions \3\ with over $100 billion in total
consolidated assets. On March 31, 2025, the OCC withdrew its
participation in the principles.\4\
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\1\ OCC Bulletin 2021-62, Risk Management: Principles for
Climate-Related Financial Risk Management for Large Banks; Request
for Feedback, (December 16, 2021); FDIC, Request for Comment on a
Statement of Principles for Climate-Related Financial Risk
Management for Large Financial Institutions, 87 FR 19507 (April 4,
2022); Board, Principles for Climate-Related Financial Risk
Management for Large Financial Institutions, 87 FR 75267 (December
8, 2022).
\2\ 88 FR 74183 (October 30, 2023).
\3\ In this issuance, the term ``financial institution'' or
``institution'' includes national banks, Federal savings
associations, U.S. branches and agencies of foreign banks, state
nonmember banks, state savings associations, state member banks,
bank holding companies, savings and loan holding companies,
intermediate holding companies, foreign banking organizations with
respect to their U.S. operations, and non-bank systemically
important financial institutions (SIFIs) supervised by the Board.
\4\ OCC Withdraws Principles for Climate-Related Financial Risk
Management for Large Financial Institutions, News Release 2025-27
(March 31, 2025).
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II. Rescission of Guidance
The agencies' existing safety and soundness standards require all
insured depository institutions to have effective risk management
processes commensurate with the size, complexity and risk of their
activities.\5\ In addition, financial institutions of all sizes are
expected to consider and appropriately address all material risks in
their operating environment and should be resilient to a range of
risks, including emerging risks.\6\ The agencies do not believe
principles for the management of climate-related financial risk are
necessary and are concerned that such
[[Page 51757]]
principles could distract from the management of other potential risks
identified and addressed by financial institutions' existing risk
management processes and the agencies' other risk management rules and
guidance.\7\ Therefore, the principles are rescinded.
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\5\ Section 39 of the Federal Deposit Insurance Act, 12 U.S.C.
1831p-1, requires the FDIC, Board, and OCC to prescribe safety and
soundness standards for insured depository institutions. Such
standards were implemented by rule in 12 CFR part 364, appendix A
(FDIC), 12 CFR part 208, appendix D-1 (Board), and 12 CFR part 30,
appendix A (OCC). These guidelines address, among other things,
operational and managerial standards relating to (1) internal
controls, information systems and internal audit systems; (2) loan
documentation; (3) credit underwriting; and (4) interest rate risk
exposure.
\6\ See, e.g., SR Letter 95-51 (as revised June 23, 2025); SR
Letter 21-3 (February 26, 2021); OCC Comptroller's Handbook, Bank
Supervision Process; FDIC Risk Management Manual of Examination
Policies, Section 4.1 Management.
\7\ Neither the principles nor this rescission requires or
prohibits financial institutions' consideration of any particular
risk or set of risks, nor do they create any rights or obligations
for financial institutions.
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III. Administrative Law Matters
A. Executive Order 12866
Pursuant to section 3(f) of Executive Order 12866, the Office of
Information and Regulatory Affairs within the Office of Management and
Budget (OMB) has determined that the rescission is a ``significant
regulatory action.''
B. Paperwork Reduction Act
The Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3521) (PRA)
states that no agency may conduct or sponsor, nor is the respondent
required to respond to, an information collection unless it displays a
currently valid OMB control number.
The rescission does not create any new, or revise any existing,
collections of information under the PRA. Therefore, no information
collection request will be submitted to the OMB for review.
Jonathan V. Gould,
Comptroller of the Currency.
By order of the Board of Governors of the Federal Reserve
System.
Benjamin W. McDonough,
Deputy Secretary of the Board.
Federal Deposit Insurance Corporation.
By order of the Board of Directors.
Dated at Washington, DC on September 25, 2025.
Jennifer M. Jones,
Deputy Executive Secretary.
[FR Doc. 2025-20213 Filed 11-17-25; 8:45 am]
BILLING CODE 6210-01-P; 4810-33-P; 6714-01-P
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