125 Mr. Deasy asked the Minister for Finance if he will reconsider the proposal by the Irish Financial Services Regulatory Authority on the restriction of investment options available to credit unions; his views on whether the proposed investment restrictions will reduce investment yields and returns resulting in lower investment income, result in a declining surplus and a corresponding reduction in dividend rates, put huge pressure on the ability of credit unions to maintain the required level of reserves, reduce funds available for community projects, reduce funds available to fund social finance initiatives; his further views on whether the large majority of credit unions follow responsible investment policies and are being unfairly penalised under the proposals; his further views on whether the small number of individual credit unions that carry out reckless and high risk investment policies can be adequately dealt with under the existing powers available to Irish Financial Services Regulatory Authority; and if he will make a statement on the matter. [9666/06]

Summary

125 Mr. Deasy asked the Minister for Finance if he will reconsider the proposal by the Irish Financial Services Regulatory Authority on the restriction of investment options available to credit unions; his views on whether the proposed investment restrictions will reduce investment yields and returns resulting in lower investment income, result in a declining surplus and a corresponding reduction in dividend rates, put huge pressure on the ability of credit unions to maintain the required level of reserves, reduce funds available for community projects, reduce funds available to fund social finance initiatives; his further views on whether the large majority of credit unions follow responsible investment policies and are being unfairly penalised under the proposals; his further views on whether the small number of individual credit unions that carry out reckless and high risk investment policies can be adequately dealt with under the existing powers available to Irish Financial Services Regulatory Authority; and if he will make a statement on the matter. [9666/06]

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• Financial Services Regulation.

  xml · EN · 8 March 2006

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