Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Cuirim fáilte roimh an tUasal Nyberg go dtí an coiste fiosrúcháin seo. I wish to pick up on the point the Chairman mentioned on that point in time in terms of the guarantee that was provided to banks at the end of September.

Can Mr. Nyberg inform the committee from the work the commission has done when was the point that the State took on, legally, the liabilities of the bank? Was it when the Government announced the guarantee, in the early hours of the morning of the 30th? Was it when the Credit Institutions (Financial Support) Act 2008 was passed by the Houses of the Oireachtas on 2 October? Was it when the financial support scheme was passed on 17 October or was it when the six covered institutions entered into that scheme on 24 October? Will Mr. Nyberg give us some clarity, from his work, on when the legal liabilities of the bank were incurred by the State?