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

Okay. If I can maybe just move then to the period subsequently after the guarantee, Mr. Merriman. And in November 2008 the treasury department looked for an increase in the lending lines to the other covered banks in order to invest in their unsecured debt and to have them reciprocate the same. This is the, kind of, green jersey thing. And on the screen there in the first two chapters, what we have there, this is an e-mail to the board from Mr. Gerry Murray, 17 November 2008 "Subject: Proposal to Increase Credit Limits [to] Irish Bank[s]". And the first two paragraphs kind of give a summary of the situation:

On September 30th, 2008 the Irish Government announced that it would guarantee Irish Banks / Building Societies until September 2010 under the Credit Institutions (Financial Support) Scheme 2008 (the "Scheme") [as it's known]. Subsequently, Moody's and [Standard and Poor] announced that they would rate any debt issued under the Scheme and maturing prior to September 2010 as AAA-backed.

That's top of the range, isn't it? It doesn't come any higher than that, yes?