Mr. Ed Sibley:

We have been very focused on this, as the Governor stated in his opening remarks. We have been very focused on Brexit for a number of years, thinking about the macro risks and also the particular risks the Deputy has identified in respect of the continuation of the provision of services to customers and consumers in Ireland. To use the Deputy's example of insurance, there are many providers of insurance into Ireland from the UK and, to a lesser extent but still of relevance, from Gibraltar. We have made sure that we understand to the greatest extent possible the volume of those contracts and policies and that we have as good an understanding as possible of the contingency plans that are being put in place and invoked to address the issue of the provision of service after Brexit. For the big firms that are passported in and are providing ongoing service in Ireland, we would be very confident that they have contingency plans that they are implementing and that they are addressing the issues. The volume is such that at the very tail, there is a possibility that we will not get to 100%. We may get to 99%, in which case there is some risk there around a hard Brexit.