Brian Cowen (Laois-Offaly, Fianna Fail)

Those matters are all being considered through the various mechanisms I have discussed and will be forwarded to the Credit Union Advisory Committee for further consideration. One must balance the question of what is prudential, what is the right allocation of risk, what is the right risk to take on, given the nature of the institutions concerned and the amounts of money involved while at the same time being as flexible and responsible as one can be with regard to some of their requirements. It is important that balance be achieved. It is not simply a question of whether one accedes to certain requests without taking into account other considerations, nor is it expected that I would do so. However, a process is in place which could involve further future amendments and changes including those the Deputy has specifically mentioned regarding the ILCU submissions that have been made. However, those must be taken in the context of a series of considerations and not taken in isolation.

See this speech in context