Mr. Patrick Casey:

I echo what Mr. Hession stated. The tiered regulatory approach, which is one of the things suggested by the Commission on Credit Unions, would proceed on the basis of not treating all credit unions in the same way. Instead, there would be tiered structures in respect of them. We put out a consultation paper on that matter last year and the majority of respondents indicated they did not want a tiered approach to be introduced at this point because so much change is taking place within the sector. This matter may arise in the short to medium term but when consultation took place, the credit unions did not want changes either within the movement or in terms of how they are treated.