Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

In his opening statement, Mr. Dukes stated the IBRC owes €42 billion to the Central Bank and other monetary authorities. The promissory note money the bank receives every year goes to pay down its emergency liquidity assistance, ELA, to the Central Bank. Is there a schedule agreed with the Central Bank on the repayment of that ELA? Obviously, the IBRC would be able to settle all its other liabilities from existing resources, apart from the ELA, which it depends on the promissory note to fund.