The latest results of the European Central Bank (ECB)’s climate stress tests incorporated the energy performance of buildings as a contributing metric to determine banks’ resilience to climate shocks. It revealed that European banks’ mortgage books could be exposed to a higher credit risk because of this.
“The test was a learning exercise,” a source at CaixaBank tells Euromoney. “It enabled us to look transversally across our different portfolios, including the mortgages book.”
The Madrid-headquartered bank has the largest mortgage portfolio in Spain.
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