RBNZ uses spurious argument for involvement in climate change

RBNZ uses spurious argument for involvement in climate change
Deputy governor Christian Hawkesby said banks needed to look long term. (Image: NZME)
Jenny Ruth
Deputy Reserve Bank of New Zealand governor Christian Hawkesby cited the fact that banks lend on 30-year mortgages as a reason why banks and their regulators need to focus on and plan for the impact of climate change.Hawkesby was answering a question about the Reserve Bank of NZ's (RBNZ) latest bank stress testing, which this year included its first climate-related test – banks were asked to test the likely impact of flooding from rising sea levels and from river and surface flooding.The central bank asked the banks to measure the exp...

More Finance

Surcharge ban may not be a win for consumers
Finance

Peter Griffin: Surcharge ban may not be a win for consumers

There are winners and losers in the surcharge move.

Peter Griffin 30 Jul 2025
FNZ employee shareholders stake claim at $7.7b
Finance

FNZ employee shareholders stake claim at $7.7b

The claim has been lodged in the High Court at Wellington.

Victoria Young 29 Jul 2025
FMA warns lenders on mortgage fraud
Finance

FMA warns lenders on mortgage fraud

The FMA sees dangers for borrowers if lenders aren't vigilant.

Staff reporters 25 Jul 2025
‘Teflon Man’ Neil Quigley’s next big job
Finance Analysis

Pattrick Smellie: ‘Teflon Man’ Neil Quigley’s next big job

Is the RBNZ lining up a Canadian replacement for Adrian Orr?

Pattrick Smellie 23 Jul 2025