Description
Ismail’s detailed and challenging argument is that the influence of the Basel approach to risk and regulation puts constraints on credit union business models that are unreasonable and constrain their ability to maximise the social good they could deliver. He predicts that given institutional and governmental indebtedness, central bank interest rates will remain low in at least the medium term, so credit unions should expect continued limitations on returns from liquid deposits.
This is a rigorous piece of work, taking an international perspective on the financial system, while analysing what this means for credit unions in Ireland and Britain.
