Mr. Seamus McCarthy:

SBCI has carried out reviews and it has identified the reasons some of these errors were made. Obviously, it is disclosing in its statement on internal control, SIC, the steps it has taken to try to avoid these happening.

The interesting thing about the guarantee schemes is that most of them are off-balance sheet. It is basically a guarantee between the Department of Enterprise, Tourism and Employment and the financial institutions that are doing the lending. The cost or the loss is actually a loss to the Vote for enterprise rather than to SBCI. SBCI was only the agent. It is complex and interesting. The guarantee and the value of the guarantee is not evident when looking at SBCI’s financial statements; it can only be seen when looking at the Vote. There may be a question of the visibility of those schemes and what is involved in them that the Deputy might like to discuss with the Department. Ultimately, it is the one at a loss.