The world’s financial system has been upended
The financial systems in Europe are shifting as central banks adjust collateral eligibility for fossil fuel companies starting in October. The Bank of England's new rules could impact lending practices significantly, with experts warning that banks will need to allocate more capital for fossil assets, reflecting a broader trend towards financial stability amidst climate change challenges.
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Published 03 Jul 2026, 02:50 UTC · Updated 03 Jul 2026, 03:00 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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