Mr. Ed Farrell:

In the past three years, there has been a restructuring board, a semi-State entity that emerged from the commission report. There have been approximately 100 mergers or transfers of engagements. There were approximately 400 credit unions but there are now 300 approximately. As I stated, that has resulted in a smaller number of much bigger credit unions in addition to a number of smaller credit unions. There are approximately 50 credit unions with a balance sheet of more than €100 million. They comprise roughly 50% of the total number in euro and assets. The Central Bank of Ireland has three asset bands, namely, under €25 million, between €25 million and €100 million, and more than €100 million. By and large, those in the latter category have taken over credit unions in the past three years under the restructuring project.