Oireachtas Joint and Select Committees

Wednesday, 16 December 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Credit Union Sector: Discussion (Resumed)

2:30 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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I am all for very strong regulation of the financial industry but I have serious concerns over the fact that the regulation is not based on risk. We talked about the requirement for 10% capital in proportion to total assets. Do the witnesses accept that this is more than double what international peers have to carry? That is because it is not risk-weighted.