Fed Official Says Climate Change Is Not 'Serious Risk' To Banks

Climate change should not be treated any differently than other risks to the stability of the U.S. financial system as rising temperatures do not pose "a serious risk to the safety and soundness of large banks or the financial stability of the United States," Fed Governor Christopher Waller says.  As the Fed looks into developing principles for America's largest banks to manage climate-related risks, Fed's Governor Waller told a conference that he believed "risks posed by climate change are not sufficiently unique or material to…