Michael McGrath (Cork South Central, Fianna Fail)
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I ask the Minister to clarify how much is in the deposit guarantee fund at present. I also ask him to clarify that the circumstances in which this scenario would arise would be those in which the fund was exhausted, whereupon the Central Bank would have to use its resources to make a payment to depositors under a compensation event and to state that it would only be in such a scenario that the Central Fund would be obliged to reimburse the Central Bank and make good the deficit. Is that what we are talking about?