Central Bank says it's ready for Brexit

"Closely monitoring" the financial market and banking sector...

Anglo Irish Bank, Irish Life and Permanent, fraud, convicted, Central Bank

The Central Bank on Dublin's Dame Street | File photo | Image: RollingNews.ie

The Central Bank has issued a statement on how it is facing the UK's decision to leave the EU.

It has offered reassurances that it can deal with "any immediate issues" and backed up the European Central Bank's claim that it is "ready for all contingencies."

It is "closely monitoring the financial market and the banking sector" and liaising with the Department of Finance as well as other domestic authorities and financial institutions.

The Central Bank has said:

"The ECB has made clear that it stands ready to provide additional liquidity, if needed, in euro and foreign currencies; and that it considers that the euro area banking system is resilient in terms of capital and liquidity.

"In line with our role to safeguard the stability of the financial system, the Central Bank has worked closely with banks and financial firms and measures are in place to address any immediate issues that may arise.

"The Central Bank is confident that the contingency measures that are in place are appropriate to address any such issues."

Meanwhile, the Dáil will be recalled for a Monday meeting on the impact of Brexit on Ireland, with the Government set to publish a summary of key actions it can take to deal with the effects of the 'Leave' vote.