Financial Services Financial Services

US OCC’s Hsu cautions banks against 'reverse-engineering' from budget numbers when planning for climate risks

By Laina S. Miller
  • 08 Nov 2021 15:29
  • 08 Nov 2021 17:18
Acting US Comptroller of the Currency Michael Hsu warned bank management to avoid restricting climate risk-management strategies based on a pre-set budget figure.

“What I would caution against is banks working backwards,” Hsu said in public remarks* today, “reverse-engineering from a budget number.”

Hsu said banks sometimes allocate a percentage of thei

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