01:52 PM EST, 02/06/2025 (MT Newswires) -- (Updates with response from the Federal Reserve in the fourth paragraph.)

The Federal Reserve told six big banks they will not need to submit climate stress test data in 2025 as the program has been shut down, Bloomberg reported Thursday, citing people familiar with the matter.

The central bank told JPMorgan Chase ( JPM ) , Citigroup ( C ) , Goldman Sachs (GS) and three other banks, the people reportedly said.

The Fed initiated the climate scenario analysis as a pilot program in 2023 and published the first results in 2024, according to the report.

The Fed declined MT Newswires' request for comment, while JPMorgan Chase ( JPM ), Citigroup ( C ) and Goldman Sachs ( GS ) did not immediately respond.

(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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