Professor Philip Lane:

Let us remain clear that the our regulation of all non-banks, whether they are credit servicing firms or retail credit firms, is for conduct with a view to determining whether they are treating customers in line with our codes. It is not a prudential motive because these agencies are not taking money from Irish depositors. They do not pose the same systemic risk, which is why we prudentially regulate banks and so on. The nature of the regulation is very different.