Fed's Board Governor Brainard: Uncertainty over impact of climate change should not slow incorporation of climate risks into bank planning and supervision

Market news

18 February 2021

Fed's Board Governor Brainard: Uncertainty over impact of climate change should not slow incorporation of climate risks into bank planning and supervision

Financial firms should be bracing for climate risks now
Tools like scenario analysis being studied for possible use in supervision on climate risks
System would ultimately need standardized, reliable and mandatory disclosures on how firms are prepared to cope with climate risks
Physical risk from weather events may be hard to assess but shorter-term shifts in policy, for example, could lead to swift changes in asset prices

Canada: New Housing Price Index, MoM, January 0.7% (forecast 0.5%)

U.S.: Continuing Jobless Claims, February 4.494 (forecast 4413)

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