Second Credit Union regulatory forums begin

The second series of forums to discuss regulation in the Credit Union sector are to begin in Cork today.

A number of meetings with credit unions will be held over the coming weeks across the country, where credit union officers who hold key governance positions will be given an opportunity to discuss regulatory policy, operations and the future shape and direction of the sector.

The Central Bank said discussions will focus on regulatory strategy, corporate governance, restructuring, loan book reviews and the 2011 year-end process.

James O’Brien, registrar of Credit Unions said. “We are aiming to build on the positive discussions we had directly with individual credit unions last year and work together to ensure that the credit union sector is put on a sound footing and is viable in the long term.

“We will outline our strategy for the sector, which is based on protecting its stability and individual members’ savings. We welcome the direct interaction at the forum, which provides a valuable input in shaping regulatory policy,” he added

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