Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Okay. So, how does that square with the comment on the end of page 15 that the main principle contained in these instructions is that a letter which expressly or by implication gives a guarantee or undertaking not already authorised by legislation, should not in any circumstances be issued? The CBFSAI's view is that a letter of comfort from the Minister to cover the subsequent risks would not be sufficient for the CBFSAI to lend to an insolvent institution, a comprehensive guarantee would be necessary. How does that square with what you just said?