Mr. Des Carville:

I do not believe the Department is an impediment to anything that the credit union sector wants to do. It is up to that sector and individual credit unions to decide how they want to deploy the surplus capital they have and where they want to invest their surplus assets. Certainly, it would not be our place to say "No" to them on that or to recommend they do not invest in housing or in mortgages. That is not the role of the Department of Finance. The implementation group will look at tiered regulation and the section 35 issues around lending. The Central Bank is positively disposed to that, based on public comments the regulator has made in regard to section 35 and tiered regulation. I believe progress can be made in the not too distant future. As I mentioned, we are supportive of credit unions. Both Ms Deirdre Aherne and I are proud members of different credit unions. To the extent that we can help, we are ready, willing and able to engage and assist.