The Federal Deposit Insurance Corporation, the Federal Reserve Board and the Office of the Comptroller of the Currency jointly announced on 16 October 2025 that they were rescinding the interagency guidance on climate-related financial risk management for large financial institutions that the agencies had jointly issued in October 2023. The rescission completes a process that began when the Office of the Comptroller of the Currency withdrew its own participation in the guidance on 31 March 2025.
The guidance being rescinded was formally titled the 'Principles for Climate-Related Financial Risk Management for Large Financial Institutions' and had set out supervisory expectations for how large banks should identify, measure, monitor, and manage climate-related financial risks across their portfolios and operations. Its repeal removes those expectations from the supervisory framework applicable to the institutions the three agencies oversee.
OCC WITHDRAWAL PRECEDED JOINT RESCISSION
The agencies' joint October announcement, issued by the FDIC, Fed and OCC together, rescinded the principles effective immediately.
The rescission does not prohibit banks from managing climate-related financial risks, but removes the specific expectation that supervisors would evaluate their risk management practices against the stated principles.