Ms Anne Marie McKiernan:

The form in which we can do this will be via regulation. We have regulation making powers and can use them after consultation with the sector, the Minister's advisory group, the Department of Finance and other parties. We will take account of the feedback and then make the changes. Within the coming months, we propose to expand the available investment classes for credit unions to directly address the Senator's point. As I have said publicly and here, we will be providing specifically for investment in projects relating to social housing. We are going as far as is prudent in the sector albeit we must take account of the realities of the environment we are in. It is a very low interest rate and yield environment. As the committee will expect me to say as regulator, we will want to see that credit unions do not get unduly into investments which could sow the seeds for future losses or risks. It will be prudent but broader than exists today.