Ms Anne Marie McKiernan:

Generally, sub-five years. However, we allow longer-term lending and mortgage lending for credit unions that can undertake the appropriate risk management for such practices. We, in turn, have prudent rules in place to ensure the special risks that exist around longer-term lending are appropriately managed. Our rules also take account of the fact that the funding model for credit unions is largely on-demand deposits. We need to balance the risks around that with their entry into longer-term lending.