Oireachtas Joint and Select Committees

Thursday, 11 December 2014

Public Accounts Committee

Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013

11:50 am

Mr. Joe O'Toole:

It depends on where the credit union stands in terms of their regulatory reserves. As was said earlier, there are only 14 credit unions below the 10% reserve position and they can be helped and about half of those are below the 5% reserve position and those that are below the 5% figure will get a call from the people here.

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