John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I will return to a point made by Deputy Sherlock. For the purpose of understanding this issue, I will describe the credit institutions resolution fund. The target level of funding for the resolution fund was €100 million and it was envisaged that the credit institutions would contribute €25 million per annum for four years until the €100 million target was achieved. The credit unions' portion of the €25 million annual contribution was set at €7 million per annum. However, the credit union movement has now contributed its portion of the €25 million, that is, €7 million per annum for five years, rather than the expected four years. Frustratingly, neither the Central Bank or Department of Finance can tell us if and when the credit union movement will not have to pay this substantial levy. That is the point that-----