In particular, the extent and nature of post-Brexit trade in financial services between the EU27 and UK financial systems will critically depend on the outcome of the current negotiations between the EU and the UK. In my remarks today, I will address three topics.
First, I aim to provide you with an update on the impact of Brexit on Ireland’s role as an international hub for international financial services. Second, I wish to outline an innovation – the concept of sovereign bond backed securities (SBBS) – that may prove helpful in supporting the development of banking union, capital markets union and monetary union.