Pat Casey (Wicklow, Fianna Fail) | Oireachtas source

I would like to get a better understanding in respect of on and off-balance sheet funding. My understanding is that where approved housing bodies obtain a loan, these are considered off-balance sheet and are not considered State debt. In cases where the funding is from a local authority, however, the loan is considered a State debt and on balance sheet. Mr. Carville referred to the creation of a vehicle. Is a determination made as to whether the investment in the vehicle is on or off-balance sheet or does the determination relate to the money the vehicle provides to the approved housing bodies or other bodies? My interpretation of what Mr. Carville said is that the vehicle per secould be considered on or off-balance sheet as opposed to the loans it provides.