Mr. Cathal Sheridan:

Shareholders are bailed in first, followed by subordinated debt, then eligible liabilities - senior debt - derivatives and deposits. Covered deposits are protected and the deposit guarantee scheme could contribute on their behalf. The system has also been designed in such a way that deposits of over €100,000 for small firms, SMEs and individuals are given priority over senior debt in order that they will be bailed in last, if needed.