Large British investment banks 'discouraged from locating in Ireland' - report

Large British investment banks 'discouraged from locating in Ireland' - report

Update 11am: The Central Bank has said it is willing to talk to any firm wanting to set up in Ireland, after reports that it is reluctant to welcome British investment banks relocating after Brexit.

It is generally hoped we could entice large multinational firms here once Britain leaves the EU, but there are fears that investment banks could be too high-risk for our economy.

Earlier:

Large British investment banks are reportedly being discouraged from setting up in Ireland after Brexit.

The Central Bank has reportedly signalled to global investment banks that it considers the banks high risk.

Investment banking is focused on advising and financing large corporations, and sees the highest returns of any banking activity.

It is hoped we could entice large international firms here once Britain leaves the EU, but news agency Reuters claims official are "reluctant" to include large-scale investment banks.

It is thought the reputational and financial risk is too high if something were to go wrong with the investment banks and because of the 4regulatory framework it would require.

A spokesman for Finance Minister Michael Noonan dismissed the Reuters report as inaccurate.


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