A top financial regulator expressed readiness Tuesday to replenish the depleted capital accounts of credit unions if they can find other capital contributors in addition to the national government.

"Decisions to provide aid to credit unions by local governments and chambers of commerce and industry would be a key factor" in motivating the national government to help replenish such lenders' capital bases, Financial Services Agency Commissioner Shoji Mori told a news conference.

"The government should inject capital into credit unions if the members of local communities cooperate to buttress the credit unions in question on the grounds that their collapse would inflict serious damage on the finances of midsize and small companies," Mori said.

Asked whether the FSA has received any application by a credit union to replenish a capital base, he said, "Several credit unions are considering applying for capital injections. 'Although we have received inquiries from the credit unions (on capital injections) behind closed doors, our talks with them have not yet reached a stage where we could let them formally apply."