07:56 AM EDT, 04/03/2024 (MT Newswires) -- The Federal Reserve is pushing back against European central bankers seeking to require US and global banks to disclose their climate risk strategies, Bloomberg New reported, citing people familiar with the matter.

The Fed, along with other regulators, have argued that the Basel Committee on Banking Supervision is overreaching its authority by trying to make climate risk central to global financial rules, Bloomberg reported.

Representatives for the Federal Reserve did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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