DFS’s Banking Industry Letter – Climate Change and Financial Risks

The letter is intended to provide some background information on climate risks, outline DFS’s expectations for New York regulated banking organizations, New York licensed branches, agencies of foreign banking organizations, New York regulated mortgage bankers and mortgage servicers, as well as New York regulated limited purpose trust companies (collectively, the “Regulated Organizations”), and to commence a dialogue as to how DFS can best support its Regulated Organizations’ efforts to manage the financial risks from climate change.

Author: New York State Department of Financial Services (NYDFS)