You can see how, at the beginning of this graph, the rate of people unemployed for more than three months but less than a year (‘medium-term unemployment’), and the long-term unemployment rate – people unemployed for more than a year – were still rising even after short-term unemployment peaked. Both these rates start rising around the time that unemployment overall starts rising.
A majority of the reporting companies integrate climate risk into their business strategies and their broader risk-management frameworks. An essential element of our bank supervision and regulation duties is assessing banks’ risk-management systems. We expect banks to have systems in place that appropriately identify, measure, control, and monitor all of their material risks.