First, the good level of resilience that has now been achieved in the European financial system. Second, and no less important, the response shown particularly by the Bank of England. Nonetheless, the long-run repercussions of the Brexit vote will only really come into view when we get a better idea of the outcome of the forthcoming exit negotiations.
First of all if a shadow banking entity becomes systemically important its failure may have devastating effects on the rest of the financial system and eventually on the real economy.