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

11:30 am

Mr. Murray McCarter:

In regard to Mr. Doyle's point about the approval from the EU, both stabilisation and restructuring support had to be approved from a state aid point of view. What could be drawn from the fund is what we have seen, that is, voluntary restructures under a certain level. That has been taking place.

In addition, despite the approval being only given in the past month, we are not aware of any restructurings or stabilisations that have been held up as a result.