Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

But ... but I would think it would be reasonable to say ... I'm not talking about a specific institution, but, clearly, the level of discount that's applied in respect of ... if you're giving over something that is a loan of a value of, we'll say, €1 million, and you're getting back only 50% of that by way of ... of funding from the ECB, that's clearly of a less quality than giving over €1 million and getting back €900 million, so ... is ... is the haircut not an indication of the quality of the loans?