Alex White (Dublin South, Labour) | Oireachtas source

Our guests from MABS are going to stay with us but I wish to move on to Ms O'Rourke because, as already stated, I wish to get the specifics out of the way before dealing with more general matters. The IBF's submission is quite new in the context of what it says. That is both useful and important. It is fair to state that what it is suggesting is that there must be an equivalence in respect of the type of regulation supervision and governance which will apply to the credit union movement. In other words, the same type of supervision and governance which applies in the financial and banking sector should also apply to credit unions. The IBF is also suggesting that the credit union movement should be required to adhere to prudential risk and corporate governance regulations similar to those which apply to other financial institutions and the banks. Is that the IBF's basic proposition?