Mr. Paul Maloney:

What is clear is that between 3 and 20 October, some e-mails emerged from the Arthur Cox data room. They were from an official in the Department to my team and state that the authority must produce a formal sanction letter for the Minister sanctioned to approve borrowing limits.

They spoke to my officials, who had dealt with the Department for a considerable number of years. I instructed them to seek sanction based on what the Department asked us to include in the letter.