Mr. Patrick Casey:

In Canada there are central credit unions set up by provincial areas. Those central provincial credit unions serve the credit unions in their areas with liquidity and various back-office supports. It is a concept that has worked. It has served the Canadian model rather well. In the USA they have similar arrangements as they have in Australia too.

I suppose it raises competition considerations, if we are talking about a competing community or public bank coming into existence, to the extent that such a public bank would be both providing shared service supports to credit unions on the one hand as well as competing with credit unions in respect of deposit sourcing or the provision of loans on the other hand. That raises competition issues.