REGULATING AGENCY: Department of Financial Services; Community and Regional Banks Division
- Adrienne A. Harris, Acting Superintendent of Financial Services
- Yolanda Ford, Deputy Superintendent of Banks
- Website: dfs.ny.gov
- Press Releases
LEAGUE: New York Credit Union Association
PRIVATE SHARE INSURANCE: No
STATS: (As of June 2021)
Total Number of Credit Unions: 314
- TOTAL # SCUs: 17
- TOTAL # FCUs: 297
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 5%
Total Assets: $109,506,220,619
- TOTAL $ SCU ASSETS: $16,772,815,306
- TOTAL $ FCU ASSETS: $92,733,405,313
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 15%
Total Members: 6,224,674
- TOTAL Members SCUs: 1,328,823
- TOTAL Members FCUs: 4,895,851
- SCU % OF TOTAL (SCUS/STATE TOAL): 21%
FUN FACT: Twice a year, the setting sun aligns perfectly with the Manhattan street grid, illuminating the borough’s east-west streets with an orange glow.
Proposed Guidance Outlines Expectations that New York Insurers Integrate the Consideration of Climate Risks into their Governance Frameworks, Risk Management Processes and Business Strategies, and Develop their Approach to Climate-Related Financial Disclosure
DFS Seeks Input on the Proposed Guidance During 90-Day Comment Period
March 25, 2021 — Superintendent of Financial Services Linda A. Lacewell today announced that the New York State Department of Financial Services (DFS) has issued proposed detailed guidance for New York-regulated domestic insurers setting out DFS’s expectations related to managing the financial risks from climate change.
The proposed guidance builds on the circular letter issued by DFS on September 22, 2020, which outlined its expectations that all New York insurers start integrating the consideration of the financial risks from climate change into their governance frameworks, risk management processes, and business strategies, and developing their approach to climate-related financial disclosure. DFS is seeking the interested parties’ input on the guidance, which will be finalized following a 90-day public comment period.
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