FHFA: Membership in the Network of Central Banks and Supervisors for Greening the Financial System Announced
The Federal Housing Finance Agency (FHFA) today announced its membership in the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Recognizing the increasing risk to property from climate change, including severe structural damage caused by hurricanes, tornadoes, floods, droughts and wildfires, FHFA Acting Director Sandra L. Thompson issued a statement in December 2021 that…
HUD: Support for Washington D.C.’s “Solar for All” Program Announced
The U.S. Department of Housing and Urban Development (HUD) today announced its support for Washington, D.C.’s “Solar for All” program to ensure that residents of HUD-assisted properties in the District are able to access the program without experiencing an increase in their housing costs. “This opportunity highlights the many ways that HUD is ensuring an…
FDIC: Request for Comment Issued on Statement of Principles for Climate-Related Financial Risk Management for Large Financial Institutions
The Federal Deposit Insurance Corporation (FDIC) today is requesting public comment on draft principles that would provide a high-level framework for the safe and sound management of exposures to climate-related financial risks. Although all financial institutions, regardless of size, may have material exposures to climate-related financial risks, these draft principles are intended for the largest…
HUD: $3 Billion Announced to Advance Equitable Disaster Recovery and Build Climate Resilience
The U.S. Department of Housing and Urban Development (HUD) today announced the allocation of nearly $3 billion in Community Development Block Grant-Disaster Recovery (CDBG-DR) funds to help communities recover from disasters and build inclusive resilience to climate change. These allocations underscore HUD and the Biden-Harris Administration’s commitment to equitably improving the nation’s disaster recovery and…
HUD: Better Climate Challange Announced
Secretary Fudge Announces Inaugural Low Carbon Multifamily Housing Partners Today, Housing and Urban Development (HUD) Secretary Marcia L. Fudge joined Department of Energy (DOE) Secretary Jennifer M. Granholm and White House National Climate Advisor Gina McCarthy to announce the inaugural Better Climate Challenge, a private-public partnership led by DOE with over 80 American businesses and…
FDIC: Acting Chairman Gruenberg Announces FDIC Priorities for 2022 Including CRA Modernization
Federal Deposit Insurance Corporation (FDIC) Acting Chairman Martin J. Gruenberg released this morning the following statement and summary of the FDIC’s priorities for the coming year: “The FDIC’s core mission is to maintain stability and public confidence in the U.S. financial system. The FDIC carries out this mission through its responsibilities for deposit insurance, banking…
HUD: Access to More Than $2 Billion in Federal Funds Opened for Disaster Recovery and Mitigation
The Department of Housing and Urban Development (HUD) today issued the Allocations for Community Development Block Grant Disaster Recovery and Implementation of the CDBG-DR Consolidated Waivers and Alternative Requirements Notice [“2020 CDBG-DR Notice”], a critical step taken by the department to open access to more than $2 billion in federal funds to help communities equitably recover and…
HUD: 2021 HUD Year in Review Fact Sheet Released
The U.S. Department of Housing and Urban Development (HUD) this year took bold action in pursuit of the agency’s mission to create strong, sustainable, inclusive communities and quality affordable homes. These actions aligned with key Biden-Harris Administration priorities including ensuring equity, removing barriers to homeownership, expanding the nation’s housing supply, and keeping Americans housed. Below…
EDA: $5 Million in American Rescue Plan Funding Invested to Support U.S. Territory-Wide Economic Development Planning
Grants for 5 Territories will Lay the Foundation for President Biden’s Build Back Better Agenda U.S. Secretary of Commerce Gina M. Raimondo today announced that the Department’s Economic Development Administration (EDA) is awarding American Rescue Plan statewide planning grants to five territories to support territory-wide economic development planning efforts. The funding will assist communities in…
OCC: Academic Papers and Research on Climate Risk in Banking and Finance Solicited
The Office of the Comptroller of the Currency (OCC) is soliciting academic-focused papers and policy-focused research on climate risk in banking and finance for presentation to the OCC on June 6-7, 2022. Information presented will inform the OCC’s approach to developing climate-related financial risk management guidance for regulated institutions. The June meeting will provide a…