Brian Lenihan Jnr (Dublin West, Fianna Fail)

Deputy Burton raised a number of issues. The credit default swap issue and the various methods available to assess the credit rating of the relevant institution is something that my officials and officials of the Central Bank and the Financial Regulator have investigated. The Central Bank and the Financial Regulator will report to my officials on that and the scheme will be drawn up in the light of their advice. However, the scheme will have to be approved by the Government. I am not determining that issue in the House this evening, because I will await the advice I receive from the Central Bank. I will consider them with my officials in the drawing up of the scheme.

I take it that Deputy Burton referred to capitalisation in the context where she envisages the taxpayer making a direct equity investment in particular financial institutions. That certainly will not arise in the course of this scheme.

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