Rivers may pose a bigger flooding risk than rising sea levels: Reserve Bank

Tue, 01 Nov 2022

The Reserve Bank of New Zealand said its preliminary climate-related stress-testing analysis showed that river and surface water flooding may pose an even greater risk to banks’ residential mortgage portfolios than coastal flooding.The Reserve Bank asked the banks to stress test the likely impact of flooding as part of its annual stress-testing programme.The analysis will be included in Wednesday’s financial stability report, but the central bank has chosen to release this analysis early.“Our long-term aim is to support banks...

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