Ms Selina Gilleece:

We welcome new initiatives. We do not feel the flexi-loan needs to be reflected in the new draft scheme. If a credit union desires to offer an additional service which falls outside of accepted services as defined by the regulator the credit union can apply to the Central Bank and indicate its capacity, competency and risk management with regard to offering the service. We have concerns about introducing credit cards. I mention credit cards because this morning it was described to some degree as a credit card.