Nevertheless, it would be hailed as an important achievement, not only from a central banker’s perspective, and it would be for the benefit of all. In particular, it would finally allow central banks to shed their role as decision makers of last resort and, thus, to return to their normal business.
Our engagement with firms to date shows that much more work needs to be done to prepare for the plausible scenario of a hard Brexit. Our engagement with incumbent firms will, therefore, continue. Moreover, we will continue to engage proactively with our European colleagues on the key supervisory and regulatory issues and risks that are associated with Brexit.