CFTC to Establish Climate-Related Market Risk Subcommittee

By Regulatory News

July 10, 2019

Basel III, Stress Testing: US

CFTC announced that it has voted to establish the Climate-Related Market Risk Subcommittee under its Market Risk Advisory Committee (MRAC). The Subcommittee is expected to provide a report to the MRAC that will identify and examine the climate change-related financial and market risks. CFTC is inviting the submission of nominations for the Subcommittee membership.

Topics and issues this Subcommittee may consider include, but are not limited to, the following:

Identifying challenges or impediments to evaluating and managing climate-related financial and market risks
Identifying how market participants can improve integration of climate-related scenario analysis, stress testing, governance initiatives, and disclosures into financial and market risk assessments and reporting
Identifying policy initiatives and best practices for risk management and disclosure of financial and market risks related to climate change that support financial stability
Identifying appropriate methods by which market participants’ data and analyses can enhance and contribute to the assessment of climate-related financial and market risks and their potential impacts financial stability indicators

Keywords: Americas, US, Banking, Insurance, Securities, Market Risk, Climate-Related Financial Risk, Stress Testing, Risk Management, CFTC

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