Oireachtas Joint and Select Committees

Thursday, 11 December 2014

Public Accounts Committee

Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013

10:50 am

Mr. Joe O'Toole:

That takes account of the fact that the regulatory reserve for credit unions is 10%. As the Deputy will know from her work on this committee, that is far higher than what is required under the Basel regulations for banks, etc. They are actually safer from that starting point of view.