Sec. 3. Update on supervisory guidance on climate risk
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/bill/117/s/588/is/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In this section, the term Federal banking agency has the meaning given the term in section 2 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5301 ). Each Federal banking agency and the National Credit Union Administration shall update applicable supervisory guidance to include climate risk, including credit, liquidity, market, operational, and reputational risk to ensure that supervised financial institutions appropriately identify and mitigate climate financial risk. The Federal Financial Institutions Examination Council shall ensure that the guidance updated under subsection
(b)is— appropriately coordinated among the Federal banking agencies and the National Credit Union Administration; and shared with State regulators.
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Sec. 3
Update on supervisory guidance on climate risk
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