In November 2014 the Central Bank launched a consultation paper on draft regulations that it was proposing to introduce for credit unions when the remaining sections of the Credit Union and Co-operation with Overseas Regulators Act 2012 (“the 2012 Act”) are commenced. On 31 July the Central Bank published its feedback statement to the Consultation and published the final regulations proposed to commence on 31 December, 2015. The regulations cover a number of areas including reserves, liquidity, lending, investments, savings and borrowings, and build upon existing prudential and governance requirements. Transitional provisions are included.