Mr. Ed Sibley:

We have lots of engagement with the Bank of England's financial regulatory authority and financial conduct authority. I exchange emails with the deputy governor on a weekly basis and yesterday and today we discussed specific matters associated with Brexit. We have worked very hard in a European setting to make sure there is a good, strong memorandum of understanding that will allow us to continue to co-operate and work collectively to ensure we are supervising and regulating the firms that operate on a cross-border basis post Brexit.

A hard Brexit would be bumpy and difficult but our role is to ensure that the financial system is not the cause of problems but will continue to support customers and businesses, after a hard Brexit, through all the difficulties Ireland will face.