Central Bank report highlights regulatory risks for Dublin’s IFSC

Rapid growth amid Brexit fallout raises stability questions for regulator

The growth of Dublin’s IFSC may change its risk profile, a new Central Bank report notes. Photograph: Aidan Crawley.

The growth of Dublin’s IFSC may change its risk profile, a new Central Bank report notes. Photograph: Aidan Crawley.

An Irish Central Bank report has said rapid growth in Dublin’s International Financial Services Centre (IFSC) arising from Brexit fallout gives rise to risks for regulators to grapple with, even though London will likely remain Europe’s leading centre for finance.

“We find that given the sizeable gap between London and other financial centres in Europe, and London’s international orientation, London is likely to remain a very global financial centre even in more adverse [Brexit] scenarios,” said Silvia Calo and Valerie Herzberg, authors of the Central Bank report on the future of global financial centres after Brexit.

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