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The Federal Housing Finance Agency issued an advisory bulletin that provides guidance to the Federal Home Loan Banks on incorporating climate-related risks into their risk-management frameworks.
Details: The FHFA bulletin says:
Climate-related risks may negatively affect the value of housing collateral that supports the FHLBanks’ lending activities.
Associated physical risks could disrupt the FHLBanks’ operations and ability to carry out their mission.
The FHLBanks should adhere to the agency’s guidance to address the effects of these risks on their business and operational resiliency.
Adherence will help ensure the FHLBanks are able to continue serving as an ongoing, reliable source of liquidity and support to their members.
ICBA Policy: ICBA opposes any federal or state climate risk regulation that adversely impacts community banks and their ability to support their communities and customers. In a statement to Congress earlier this year, ICBA said agency efforts on climate risk are an emerging threat to community banks and their customers.