Minister for Finance Michael Noonan has told the Dáil that the interim report of the commission examining credit unions will be published on Friday.
Mr Noonan defended his decision to announce recapitalisation of credit unions in the Seanad last Thursday, saying rumours had begun to circulate that ''people wouldn't be able to enjoy Christmas''.
Addressing the Dáil on the Credit Institutions Bill, he said he had been questioned on the credit unions in the Seanad and that was why he decided to get the facts out as "facts kill rumour".
The minister said the announcement may have been of concern to the management of credit unions but was of relief to investors and depositors.
Fianna Fáil's Michael McGrath said it was important to bring certainty to the regulation of credit unions and that decision making was retained locally.
Sinn Féin's Pearse Doherty told the Dáil that the restructuring of credit unions must be left to the Credit Union Commission and to the Oireachtas, without unnecessary interference from the regulator.
He said the financial position of a small number of credit unions must not be used by the regulator to impose an agenda that is not in keeping with their community, voluntary and not-for-profit basis.
Mr Doherty told Mr Noonan that his ''out of the blue'' statement in the Seanad last week was unhelpful.
He said he thought it caused alarm in relation to the figures in terms of the recapitalisation of the credit unions that it would cost between €500m and €1bn.
''I think that statement is without context and without justification, and it has the effect of unsettling a lot of credit union members across the State, and creating a negative consumer confidence,'' he said.
Mr Doherty said the Minister's assessment of information is from the Central Bank, which is itself based on the unpublished and poorly conducted research into the credit union movement.
He said it also appears that selected journalists are being briefed on that research as well, which is painting a confusing picture for many.
