Gustavo Bernal Torres
US Fed's Pilot Climate Scenario Analysis
The US Federal Reserve Board has published instructions for its first climate scenario exercise.
The Board is conducting a pilot CSA exercise to learn about large banking organizations’ climate risk-management practices and challenges and to enhance the ability of both large banking organizations and supervisors to identify, measure, monitor, and manage climate-related financial risks.
Six of the largest American banks will need to complete the exercise by July 31st: Bank of America, JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, and Wells Fargo.
Source: https://www.federalreserve.gov/publications/files/csa-instructions-20230117.pdf