Bilateral trade flows between Ireland and Britain could fall by a minimum of 20% over the long-term, if the latter were to exit the EU, a new report has forecast.

The chairman of Lloyds Banking Group has said that there was no “compelling economic argument” for Britain to stay in the European Union without a significant change in its relationship with the bloc.

The Central Bank plans to extend reporting requirements on the activities of financial corporation vehicles which are registered here but service financial activities across the global economy.

A surge for sterling against the euro following the unexpected outcome of the UK election will boost Irish exporters, but investors say long-held worries about Britain exiting the EU will now swiftly take centre stage.