Mr. Ed Sibley:

To be consistent with what I have said and what the last few registrars have said, from a collective perspective we had hoped to see more leadership collectively across the sector and a better articulation of a vision. From the Central Bank's perspective, and consistent with what we see across other sectors, we hope to see the credit union sector thrive, for it to serve its members well and that its members funds are protected. Specific business models, either on an individual or overall basis, is something for the leadership of the sector to come up with. We are very supportive of it and have a business model development team that works with the sector on the area but it is not for the Central Bank to opine definitively on what the credit union business model should look like, whether individually or collectively.