For example, our bi-annual Financial Stability Reports17 have highlighted the systemic risks from climate change and this focus will continue.
However, in societies in which banks are afforded certain benefits and safety nets because banking problems have the potential to disrupt financial markets, banks can perform their intermediary role best if they are properly supervised. This supervision, in turn, should start with oversight by depositors and participants in private debt and equity markets and be reinforced by appropriate supervisory practices and safeguards.