Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I ask Ms McKiernan to be very specific with them. Much of the language she has used here has been very general and broad about seeing proposals for long-term lending that are not sufficiently well structured and with sustainable aims. The registrar needs to be very clear and specific with the credit unions. If they make proposals that she believes do not meet the required standards, the Central Bank must tell them exactly why they do not meet requirements and help them by saying, explicitly, what it is they need to do to meet the standards that would allow the Central Bank to give approval. Much of what we have heard here has been very general.