Irish banks prepared for Brexit but face material effects, deputy says
Effects on profitability and business models could be ‘material’ if UK votes to leave EU
A vote by the UK to leave the European Union could have "material" effects on Irish financial institutions, a Central Bank of Ireland deputy governor warned on June 14.
Sharon Donnery nonetheless expressed her confidence that firms had the necessary contingency plans in place to weather any short-term impact.
The UK holds its EU referendum on June 23. The latest polls suggest a swing in sentiment towards leaving over the past few days.
In its macro financial review, published yesterday, the
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