Almost all EU countries are likely to bid to host the two major regulatory agencies that have to be relocated from London, setting up a potential squabble between the 27 remaining members that have so far shown a united front on Brexit.

Industry body Insurance Ireland has called for an urgent review of the country’s attractiveness as an EU hub after reports that Lloyd’s of London plans to overlook Ireland as it selects a new European headquarters following Brexit.

The EU wants to avoid Brexit turf wars by extending its oversight of financial services.

Royal Bank of Scotland chairman Howard Davies indicated the UK taxpayer-owned bank would probably pick Dublin as its EU base following Brexit and may have to move “tens” of employees from Britain to other offices.

An indebted Japanese bank for small businesses, the Incubator Bank of Japan, has filed for bankruptcy, the government financial watchdog announced today.