Brian Lenihan Jnr (Dublin West, Fianna Fail)

This will be determined by regulations. Credit unions, like other credit institutions, at this stage will be required to pay 0.2% of total deposits. However, they will be exempt from the minimum payment deposit provision which is currently set at €25,400, as that could have a disproportionate impact on smaller credit unions. The initial intent related to a 0.2% rate and as I indicated in the debate, I am open in the context of the risk assessment procedure to varying it in future.

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