But overall, I believe that both financial institutions and supervisors have already made good progress in preparing for Brexit. I therefore do not expect financial stability repercussions in Germany or Europe or a significant shortage of credit supply. 4. Retaining a cooperative stance Ladies and gentleman, Brexit fits into a certain trend we are seeing towards renationalisation.
The fully calibrated set of measures will then be issued by the end of 2010 and the new standards will be phased in by the end of 2012 provided that economic recovery is assured. The proposed measures will certainly help to reduce the likelihood of individual bank failures.