Climate Change Financial Risk Act of 2021

Summary

Climate Change Financial Risk Act of 2021 This bill addresses climate change risk and its potential impact on the financial system. The Federal Reserve Board must develop financial risk analyses relating to climate change for specified large nonbank financial companies and bank holding companies. Specifically, these entities will be evaluated every two years on whether they have the capital necessary to absorb financial losses that would arise under several different climate change risk scenarios. The bill also establishes the Climate Risk Scenario Technical Development Group to provide recommendations to the board regarding such climate change risk scenarios, and determine the financial and economic risks of these scenarios. The Financial Stability Oversight Council of the Department of the Treasury must establish a committee to assist it in identifying risks and responding to threats to the financial system as a result of climate change.

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Timeline

1. 27 May 2021

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 27 May 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 27 May 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 May 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 May 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 27 May 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Schatz, Brian [D-HI] · D · Sponsor
• Sen. Whitehouse, Sheldon [D-RI] · D · Sponsor
• Sen. Booker, Cory A. [D-NJ] · D · Sponsor
• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• Sen. Van Hollen, Chris [D-MD] · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Murray, Patty [D-WA] · D · Sponsor
• Sen. Padilla, Alex [D-CA] · D · Sponsor
• Sen. Bennet, Michael F. [D-CO] · D · Sponsor
• Sen. Klobuchar, Amy [D-MN] · D · Sponsor
• · ssbk00 · Standing

Related records

• related to ← Climate Change Financial Risk Act of 2021