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Bank of England studies climate buffers for banks



© Reuters. FILE PHOTO: A person walks past the Bank of England in the City of London financial district, in London, Britain, June 11, 2021. REUTERS/Henry Nicholls

LONDON (Reuters) – The Bank of England said on Thursday it will study whether banks need to hold capital specifically to cover their risks from climate change.

“This work will help determine whether changes to the design, use or calibration of the regulatory capital framework may also be needed to ensure resilience against these risks,” the BoE’s Prudential (LON:) Regulation Authority said in a statement.

“We will provide an update on our approach in 2022 following a call for further research and a conference on climate change and capital requirements.”

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