To avoid another subprime crisis, banks must help consumers to renovate their homes

To avoid another subprime crisis, banks must help consumers to renovate their homes

by | Jul 19, 2022

The latest ECB climate stress test shows that banks could face a wave of insolvencies on their mortgage lending as energy-inefficient homes make their clients vulnerable to higher energy prices. Banks’ unpreparedness to collect data on the energy efficiency of their real estate exposures exacerbates this risk even more. This is a wake-up call for the EU and governments to urgently strengthen supervision and oblige banks to unlock finance for the renovation wave.

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