Brian Lenihan Jnr (Dublin West, Fianna Fail)

All the covered institutions have paid the charge in a prompt and timely manner and are up to date. In response to Deputy Creighton, of course the difficulty for small and medium-sized enterprises in obtaining credit is a very serious matter and is taken into the Government's consideration. We are at an advanced stage in drawing down the European investment bank facility for a number of our financial institutions.

Regarding the deposit of the money in the Central Bank, it is important that the moneys obtained on foot of the guarantee are seen by international markets to be on deposit in a secure place for any honouring of the guarantee. The credibility of the guarantee is important; partly it rests on the deposit of the funds collected in respect of it at the Central Bank. That said, as I indicated in reply to Deputy Burton, I am open to constructive suggestions about the eventual deployment of these funds on the lapse of the guarantee scheme.

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