Ms Anne Marie McKiernan:

Our role is to look at those proposals and see if they are appropriate for the credit union sector now and in terms of how it might evolve in the future. We work with those bodies to develop those proposals so that they will have a better chance of success and of saving the sector. The second thing we can do is ensure - while all of the latter are moving from being emergent proposals to better developed proposals to, eventually, it is hoped, successful proposals - that we work with credit unions through direct contact and our supervisory engagement so that they focus on ensuring they meet the basic standards that protect their members' funds. They will, therefore, stay relevant, viable and safe while on the way to potentially taking on new business product approaches.