Stock market quotes, forex, financial news, forex tools – money-investing.com

Unpleasant consequences of Brexit. Bank of America preferred Dublin to London

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
Unpleasant consequences of Brexit. Bank of America preferred Dublin to London
July 21
13:00 2017

Bank of America published on its website the statement of the chief executive officer of this financial institution Brian Moynihan. He says about the intention of the management of the largest bank holding company in the United States to transfer all operations related to the EU from London to Dublin immediately after the completion of the UK withdrawal from the European Union. The statement also emphasizes that the purpose of this measure is to provide the customers of the bank with the service without interruption.

The analysts of the banking sector expect that other financial institutions will also transfer European headquarters from the capital of the United Kingdom. Both Dublin and Frankfurt have equal chances to become a new center. The latter one benefits from the fact that it is a larger financial center than the capital of Ireland. However, Dublin’s obvious advantage is a similar to the British legal framework and a low corporate profits tax. In addition, the advantage of the capital of Ireland is English as an official language.

The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment