Sunday 17 February 2019

Brexit a drain on Central Bank's resources

Central Bank deputy governor Ed Sibley highlighted issues
Central Bank deputy governor Ed Sibley highlighted issues
Gavin McLoughlin

Gavin McLoughlin

The Central Bank has had to "re-prioritise" ordinary supervision activity because of the large number of firms looking to relocate here after Brexit using up the bank's resources.

Central Bank deputy governor Ed Sibley told colleagues that there had been a "material" increase in firms looking to come here.

Previous reports have suggested there could have been as many as 175 by the end of 2018.

Earlier this week, EY said Dublin has remained the most popular choice for financial service companies looking to relocate after Brexit, despite concerns that the high cost of housing might put firms off coming to the Irish capital.

Irish Independent

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