Mr. Ed Farrell:

Page 74 of July's CUAC report under the recommendations on governance states:

CUAC considers that governance requirements on Irish credit unions are on a par with international best practice with further additional governance requirements unnecessary. CUAC again emphasises the importance of the Central Bank ‘having regard to the need to ensure that the requirements imposed by the regulations made by it are effective and proportionate having regard to the nature, scale and complexity of credit unions’. CUAC believes that proportionality is currently not evident for those credit unions who operate a simple savings and loan model.

My point is that it is not just us, because we would say that.