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Climate Risk Scorecard

Assessment Key
Significant ProgressSignificant Progress
Some ProgressSome Progress
No ProgressNo Progress
Not ApplicableNot Applicable

Office of the Comptroller of the Currency

Other Agency Scorecards:
About the Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) is an independent bureau of the U.S. Department of the Treasury. The OCC charters, regulates, and supervises all national banks, federal savings associations, thrift institutions, and federal branches and agencies of foreign banks. The OCC coordinates with the FDIC and Federal Reserve on maintaining the safety and soundness of the U.S. banking sector.  

The OCC ensures that the banks it supervises operate in a safe and sound manner, provide fair access to financial services, treat customers fairly and equally, and comply with applicable laws and regulations. The OCC helps banks be leaders in safe and sound community development financing and in making financial services accessible to underserved communities and consumers.  

OCC examiners conduct on-site reviews of banks and provide ongoing supervision of the banks’ operations. The OCC issues rules and regulations that govern the banks it supervises, taking supervisory actions against banks that do not comply with these statutes or that otherwise engage in risky practices. 

If climate risk remains unaddressed in the economy by regulators, financial institutions across the country will face risks throughout their lending portfolios. Climate risk – and its associated economic and financial market consequences – directly and indirectly impacts bank balance sheets, strategies, and operations, and could increase credit, market, liquidity, and operational risk at financial institutions. Because this will implicate the safety and soundness of both individual firms and the financial system as a whole, the OCC must understand and address these risks.

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