Martin Mansergh (Tipperary South, Fianna Fail)

The purpose of this amendment is to substitute a positive resolution process with regard to a scheme for financial support to guarantee credit institutions in place of the negative resolution in the Bill as initiated. The amendment which was signalled by the Minister for Finance in the Dáil earlier this morning reflects the importance of ensuring both Houses of the Oireachtas have an opportunity to consider and endorse a scheme dealing with key requirements for financial institutions benefitting from a State guarantee. Of particular importance is the mechanism for pricing the value of the guarantee for these institutions, as well as the terms and conditions to strengthen corporate governance transparency and risk management processes in the institutions which will benefit from the State warranty.

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