Dáil Éireann Debate, Wednesday - 1 February 2012
51 Deputy Caoimhghín Ó Caoláin asked the Minister for Finance the number of credit unions that have approached the Registrar of Credit Unions seeking the easing or lifting of lending restrictions placed on them by the Registrar; and the number of these requests that have been granted. [5658/12]
View answerThe imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions. Within his independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my role is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. I am advised by the Registry of Credit Unions that the information requested by the Deputy will take some time to collate and will be made available to the Deputy within the next week.
