In the meantime, the Central Bank will continue to fulfil its responsibilities to deliver assertive risk-based supervision which is undertaken in the context of the wider European System of Financial Supervision. This is critical to ensure no race to the bottom, no regulatory arbitrage, and no unwarranted financial stability risks emerge.
For all aspects, it will take some time before we be able to navigate a route to clarity. 1 5/6  BIS central bankers' speeches  1 See Honohan, P. and Fitzgerald, J., (2016), ‘Ireland and Brexit’, available here.