Climate risks in the US banking sector: Evidence from operational losses and extreme storms

Abstract

issn: 1962-5361 disclaimer: this philadelphia fed working paper represents preliminary research that is being circulated for discussion purposes. the views expressed in these papers are solely those of the authors and do not necessarily reflect the views of the federal reserve bank of philadelphia or the federal reserve system. any errors or omissions are the responsibility of the authors. philadelphia fed working papers are free to download at: philadelphiafed.org/researchand-data/publications/working-papers. doi: doi.org 10.21799/frbp.wp.2023.31 wp 23-31publisheddecember 2023allen bergeruniversity of south carolinafilippo curtifederal reserve bank of richmondnika lazaryanfederal reserve bank of richmondatanas mihovuniversity of kansasraluca a. romanfederal reserve bank of philadelphia supervision, regulation, and credit departmentclimate risks in the u.s. banking sectorevidence from operational losses and extreme stormsworking papersresearch department climate risks in the u.s. banking sector: evidence from operational losses and extreme storms allen bergera, filippo curtib, nika lazaryanb, atanas mihovc, raluca romand auniversity of south carolina, 1014 greene street, columbia, sc 29208, usa bfederal reserve bank of richmond, 530 east trade street, charlotte, nc 28202, usa cuniversity of kansas, 1654 naismith drive, lawrence, ks 66045, usa dfederal reserve bank of philadelphia, 10 independence mall, philadelphia, pa 19106, usa november 20, 2023 abstract using supervisory …

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