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  1. #1
    PBP voter PBP voter is offline

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    Central Bank Commission:No bank applications as Brexit effect is 'limited'

    No bank applications as Brexit effect is 'limited' - Independent.ie

    *No applications from banks in the first half of the year to set up operations here.
    * Despite increased political uncertainty in the UK, financial markets have not be adversely affected


    So as per usual the media have over-estimated the impact Brexit will have. What a surprise.
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  2. #2
    Catalpast Catalpast is offline
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    A load of scaremongering!

    Britain will be financially better off outside the EU

    - and that sticks in a lot of people's throats

    None more so than here

    - as we fawningly swallow everything the EU tells us to do....
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  3. #3
    Sister Mercedes Sister Mercedes is offline
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    Bank of America and JP Morgan are already here but going to expand. So there's no application to be doing.

    Some other banks are setting up in Frankfurt. They feel the smaller central banks don't have the competence to regulate complex financial instruments.
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  4. #4
    Des Quirell Des Quirell is online now
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    Quote Originally Posted by PBP voter View Post
    No bank applications as Brexit effect is 'limited' - Independent.ie

    *No applications from banks in the first half of the year to set up operations here.
    * Despite increased political uncertainty in the UK, financial markets have not be adversely affected


    So as per usual the media have over-estimated the impact Brexit will have. What a surprise.
    You don't apply for a licence without extensive preparation beforehand. It takes about two years at least to prepare the ground. You don't just order a brass plate and send in a form along with a postal order for ten shillings.

    Very deep audits are performed on your business offering and operational model in order to satisfy local and other regulatory demands. This takes years. That no applications have yet been received signifies nothing.
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  5. #5
    The_SR The_SR is online now

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    Most of the movement will be banks with operations here already. And that will be significant. There are very few banks without a Dublin presence already.
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  6. #6
    brughahaha brughahaha is offline

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    Quote Originally Posted by Sister Mercedes View Post
    Bank of America and JP Morgan are already here but going to expand. So there's no application to be doing.

    Some other banks are setting up in Frankfurt. They feel the smaller central banks don't have the competence to regulate complex financial instruments.
    Theyre setting up back offices , low to mid range stuff .....very little sign of any senior management has moved out of London ...yet
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  7. #7
    brughahaha brughahaha is offline

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    Quote Originally Posted by Des Quirell View Post
    You don't apply for a licence without extensive preparation beforehand. It takes about two years at least to prepare the ground. You don't just order a brass plate and send in a form along with a postal order for ten shillings.

    Very deep audits are performed on your business offering and operational model in order to satisfy local and other regulatory demands. This takes years. That no applications have yet been received signifies nothing.
    yeah ...you also dont do it without talking to the central banking authority way before hand ..... so if he says its limited , he'd know ...
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  8. #8
    HarshBuzz HarshBuzz is online now
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    Quote Originally Posted by The_SR View Post
    Most of the movement will be banks with operations here already. And that will be significant. There are very few banks without a Dublin presence already.
    This, exactly. Every significant investment bank or imvestment firm has a presence here already - Citi, Deutsche, SLI, StateStreet, BNP, BAM, JPM etc...
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  9. #9
    Man or Mouse Man or Mouse is offline

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    Quote Originally Posted by Sister Mercedes View Post
    Bank of America and JP Morgan are already here but going to expand. So there's no application to be doing.

    Some other banks are setting up in Frankfurt. They feel the smaller central banks don't have the competence to regulate complex financial instruments.
    They're probably right too. We didn't do a great job on AIB and the rest. So, we're probably lucky they're heading for Frankfurt too.
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  10. #10
    Hillmanhunter1 Hillmanhunter1 is offline
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    Quote Originally Posted by Catalpast View Post
    A load of scaremongering!

    Britain will be financially better off outside the EU

    - and that sticks in a lot of people's throats

    None more so than here

    - as we fawningly swallow everything the EU tells us to do....
    You are cordially invited to set out the economic case for Brexit on this thread:
    The economics of Brexit
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