According to the Australia's Council of Financial Regulators (CFR), the direct effect of Brexit on the

operations and resilience of Australia's financial institutions is expected to be minor. Evaluate this

statement.

What does it mean by the "operations and resilience of the Australian financial

institutions"?

Elaborate more on the statement made by the Treasurer that the impact of the Brexit is

expected to be minor on the operations and resilience of the Australian financial

institutions? Hint: https://treasury.gov.au/sites/default/files/2019-03/CFR_Brexit.pdf