RBNZ recommends banks fill in the gaps on climate risks
Dividends and profits of the country's five largest banks were hit by the RBNZ's most extreme scenario.
Damage in Hawke's Bay after Cyclone Gabrielle last year.
The Reserve Bank has recommended retail banks address “significant” data shortfalls to help prepare them for future climate shocks.
Today, the central bank released the results of its 2023 Climate Stress Test, which assessed the resilience of the country’s five largest banks.
Financial
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