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

Okay. Can I ask you in relation to the guarantee itself ... and explain this to me because I've not been ... we've not been able to get this at the committee so far. The guarantee was announced by Government. When did the banks, legally ... when were we contracted, bound by the guarantee? There's evidence here in the book, I think, which talks about ... it's page 26, Vol. 3, which says that on Friday, 24 October, it was in "[the] order [to designate] the first group of banks and building societies to participate in the Credit Institutions (Financial Support) Scheme 2008 ..." was made on Friday, 24 October 2008. It's also the same month where the Minister starts to make provision for contingent capital to be made available to the banks. So my question to you is: were we actually, as a State, legally bound by a guarantee on the night of the guarantee, or was it when the banks signed up to the scheme and the order was signed on the 24th? And at that stage, did we know that these banks would be requiring at least some capital?