Not only would the Protection Fund cover deposits but it would include withdrawable shares, that is, shares not held as permanent shares which represent most of the sector’s savings, a situation that is unique to Trinidad and Tobago. Withdrawable shares, therefore, pose a greater loss of risk than deposits for credit union members in the event of a credit union’s failure.
Second, once we have reached the peak, we will stay there until we are sure of a safe and timely return of inflation to our 2% target. And third, we have to support this interest rate policy by reducing our balance sheet. I very much welcome the decisions to increase the pace of this reduction.