WASHINGTON—Office of the Comptroller of the Currency (OCC) Senior Deputy Comptroller for Large Bank Supervision Greg Coleman today testified before the U.S. House of Representatives’ Committee on Financial Services’ Subcommittee on Financial Institutions and Monetary Policy on the agency’s supervision of climate-related financial risks.
In his testimony, Mr. Coleman discussed the OCC’s supervision activities at banks over $100 billion in consolidated assets to understand their climate-related financial risks. Mr. Coleman described the agency’s focus on climate-related financial risks as firmly rooted in its safety and soundness mandate and shared initial observations of large banks’ management of climate-related financial risks.