(Shutterstock)At a press breakfast, Dr Elke König, chair of the Single Resolution Board (SRB), said that she sees no imminent risk to financial stability from a No-Deal Brexit. Anna Tobin reports
“The SRB is closely watching the events in the UK in relation to whether and under what arrangements the UK will leave the EU,” said Dr Elke König, chair of the Single Resolution Board, the European Banking Union’s resolution authority. “All stakeholders in financial regulation are keeping the situation continuously under review and are working together for the common cause of financial stability. Preparations have been made, so the situation appears manageable. There may be volatility but given the level of preparedness, there should be no imminent risk to financial stability.
“The SRB has consistently maintained its expectations in relation to resolvability in the context of Brexit, reiterated clearly in the Brexit Position Paper published in November 2018, aligned with the EBA’s [European Banking Authority’s] opinions. This included expectations for banks relocating to the EU27. The relevant internal resolution teams have been working closely with individual banks to implement these expectations, in preparation for any market instability.
“We are watching developments as closely as everyone else, and we wait to see what comes out of Westminster this week.”
Ensure your Business partners are ‘Ready for Brexit’ with the BrexSure Brexit audit tool
Download the Brexlist – your Brexit checklist for preparing your business for Brexit
Subscribe to
Sign up now for all these Brexit business tools
NO DEAL BREXIT
ACTION PLAN
The No Deal Brexit Action Plan maps out the time available and the time required to undertake the processes to prepare your business for a No Deal Brexit.
Your business will need to modify or completely change procedures to prepare for Brexit. Brexlists help you take a rigorous and structured approach to your preparations:
- The Executive Summary Brexlist Brexit checklist, as its name implies, highlights the key issues
- The Business Functions Brexlist Brexit checklist maps onto the key business functions in a company
- The Directory Brexlist Brexit checklist maps onto the topic headings in our Brexit Directory
highlight what needs to be done, and by when, to ensure that all parts of your supply chain are prepared for Brexit:
- Identify the key questions for your business
- Share key learnings with your business partners
- Identify the key challenges and opportunities
- Highlight key internal and external priorities
BREXIT
DIRECTORY
The Brexit Directory is an extensive database of information and links organised by business function to help you find the information your business needs to know.