Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

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

And in relation to ... you mention in your statement, on page 4 and page 5, that on 29 October the Minister, by statutory instrument, specified the banks covered by the guarantee scheme. You go back then on 20 October, the guarantee scheme was introduced by way of statutory instrument and three days before that the guarantee scheme was approved by the Houses of the Oireachtas, and prior to that the legislation that allowed for a scheme to be introduced was approved, about two weeks before that. So can you tell me, when the banks signed up to the scheme, the deed, the deeds, which was the 24th, which was in between the scheme being introduced by way of statutory instrument and the Government specifying the banks, was the assets of the banks and liabilities of the banks guaranteed at that stage?

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