The Federal Reserve has informed Wall Street banks that they will not be required to participate in climate stress tests, according to Bloomberg News. The decision affects lenders such as JPMorgan Chase & Co.

Six major U.S. banks won't be required to make submissions for the Fed's Climate Scenario Analysis Exercise because that program's been shut down, sources say.

The Federal Reserve is ending its program that requires the largest U.S. banks to submit data for climate stress tests, Bloomberg’s Alastair

The Federal Reserve released hypothetical scenarios for its annual stress tests, which seek to evaluate the resilience of big banks and ensure they can keep lending even in a severe recession.