Dinny McGinley (Donegal South West, Fine Gael) | Oireachtas source

The Central Bank has informed the Minister that based on data submitted by credit unions as at 30 September 2013, some 20 credit unions have reported regulatory reserves below the minimum requirement of 10% of assets. This gives rise to a capital shortfall in the region of €11 million. The Central Bank continues to work through a portfolio of approximately 100 credit unions on a case-by-case basis. That is the information the Central Bank has provided to the Minister for this evening's discussion.