Lane says Irish banks face a challenging environment

The banks have to deal with legacy issues as well as fresh challenges like Brexit, the Central Bank governor said

20th December, 2016
Central Bank governor Philip Lane

Philip Lane told the Oireachtas committee on finance, public expenditure and reform that the implications of Brexit for both the Irish and European financial system depended on the agreement reached between the UK and the EU.

"Should the UK-EU negotiations result in an agreement that retains the single passport for UK-resident entities selling into the EU, the net impact of Brexit on the structure of the European financial system may be limited," he said. "In...

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