Federal Reserve officials push back against global climate banking regulations (2024)
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The Federal Reserve pushed back on April 3 against supporters of global climate banking regulations in a recent meeting of the Basel Committee on Banking Supervision—a group of officials from central banking systems around the world. According to Bloomberg:
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European central bankers have been advocating for the Basel Committee on Banking Supervision to agree on requiring lenders to disclose their strategies for meeting green commitments. In closed-door meetings, US officials have cited their narrow mandate and concerns that the Basel Committee was overstepping its purpose, some of the people said. The rift at the committee, which brings together representatives from regulators and central banks around the world to coordinate rules and oversight of lenders, has been particularly pronounced between some officials at the Fed and the European Central Bank, which has been an avid supporter of more stringent climate requirements, the people said. Spokespeople for the Fed, the Basel Committee and the ECB declined to comment. The details of the private deliberations by the committee are based on conversations with about a half dozen senior officials, who asked not to be identified because the conversations are confidential, and documents obtained by Bloomberg News.[1] |
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Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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