Pearse Doherty (Donegal South West, Sinn Fein)
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The statutory mandate of the Registrar of Credit Unions is not to protect members' funds, its statutory mandate is to ensure that the credit unions protect members' funds. There is a very clear distinction because one is going over the head of the credit unions and the other is working with them to make sure that the appropriate regulation is in place to ensure there is no risk to members' funds. Will the witness please answer the question? At what level did the cap of €100,000 emerge from in the Central Bank?