“Banking is on the front lines now”: OCC’s Hsu links geopolitical and climate risk at IIB summit

The United States’ acting comptroller of the currency Michael Hsu has argued that banks should treat climate risk with the same “bread-and-butter” scenario analysis tools they are currently using to assess their geopolitical risk following Russia’s invasion of Ukraine, in remarks to the International Institute of Bankers’ first in-person summit in two years.