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The BoE wants to get banks to better analyse the risks, such as what impact a flood plain might have on their mortgage portfolio, in ways that insurers already do.
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In an unprecedented step for a regulator of a global financial centre, the BoE’s Prudential Regulation Authority will on Monday tell boards of banks and insurers to identify a senior executive to take charge of managing climate-change risks and report to the board — or face consequences.
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