Rodgin Cohen Sees U.S. Banks Prepared for 'Almost' Any Brexit Eventuality

The transcript discusses the preparedness of US banks for Brexit, highlighting that major international banks with a presence in the UK have had ample time to plan for various outcomes. Michael Corbitt mentions that even if Brexit becomes softer, banks are unlikely to change their current strategies, as they have reached a point where reversing course would be difficult.

What was Michael Corbitt's stance on Brexit planning?

• He was unsure about the impact of Brexit.

• He believed no planning was necessary.

• He stated they planned for a hard Brexit from the start.

• He thought Brexit would not affect banks.

Why are major international banks considered prepared for Brexit?

• They have had ample time to plan for it.

• They have ignored the Brexit process.

• They have decided to leave the UK.

• They have no presence in the UK.

What is a fortunate aspect of the Brexit process for banks?

• It allowed banks to plan over a long period.

• It was completely unexpected.

• It happened very quickly.

• It required no changes in operations.

What would banks likely do if Brexit became softer?

• They would close their UK operations.

• They would continue with their current plans.

• They would immediately change their plans.

• They would increase their investments in the UK.

Why is it difficult for banks to reverse their Brexit plans?

• They have not made any plans.

• They have already reached a point of no return.

• They are waiting for more information.

• They are not affected by Brexit.