January 31, 2018 / 9:26 AM / in a year

Irish Central Bank sees Brexit-related authorisations increasing

Governor Philip R. Lane looks on at the publication of the Central Bank of Ireland's review of residential mortgage lending requirements in Dublin, Ireland November 23, 2016. REUTERS/Clodagh Kilcoyne

DUBLIN (Reuters) - Ireland’s central bank expects to see an increase in Brexit-related authorisations from financial services firms looking to set to set up in the country or extend their current operations, governor Philip Lane said on Wednesday.

“Many types of entities - including banks; insurance companies; asset management firms; and payments and electronic money institutions - have made applications to the Central Bank of Ireland,” Lane told a financial conference.

“The potential activities range from: broker dealers; trading venues; electronic money institutions; commercial insurance; and retail insurance. We expect the current levels of authorisation and supervisory engagements with firms to increase further.”

Reporting by Padraic Halpin; Editing by Robin Pomeroy

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