Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

We are seeing an increasing number of companies change their licensing arrangements so that they can fit in with the macroprudential and financial stability requirements of a post-Brexit European Union. There is still a considerable amount of work to be done in this area. From my engagement with the Central Bank, I am very confident that it is doing all that can be done on this. My message is that we do need financial services entities, as is the case in the rest of the economy, to engage with the Central Bank to ensure the right work is in place in advance of March. While much of that work is under way, there is still a fair bit to be done. I am regularly updated on these matters directly via the Central Bank and we also have a financial stability group in place, which includes the Central Bank and the Department. The group provides the regular reporting mechanism by which I am updated on this and other Brexit issues.

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