Washington Report 360 | January 24, 2020

IBC/WEF whitepaper on ESG; FRB propose supervisory process changes; FRB/FDIC open board meetings; OCC/FDIC process with CRA proposal

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key Highlights

  • The International Business Committee and the World Economic Forum released a whitepaper proposing common ESG metrics and disclosures, including contributions toward the UN Sustainable Development Goals, to be used in annual reports; 140 CEOs signed the original compact.
  • The FRB outlined areas for proposed change in its supervisory process including large bank and LISCC programs, the treatment of guidance (such as public comment and Congressional Review), communications, and MRAs.
  • The FRB and FDIC have each scheduled open board meetings to consider proposed amendments to the Volcker Rule.
  • OCC Comptroller states that OCC and FDIC will proceed with CRA proposal.

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