Brian Lenihan Jnr (Dublin West, Fianna Fail)

The Government also intends, in line with its previous indication, to put a State guarantee in place for the future issuance of debt securities with a maturity of up to five years. This access to longer-term funding is in line with the mainstream approach in the EU; is consistent with State aid rules; and will assist the funding needs of the banks and secure their continued stability.

The Government is determined through these reforms to restore our banking system and the reputation of our regulatory and supervisory structures. We want to send a strong signal that the types of practices followed in some of our institutions are unacceptable, that the regulatory structures will be strengthened, that decisive action is being taken to repair banks' balance sheets and that Ireland remains committed to the continued development of a soundly based, well-regulated and competently supervised financial services sector.

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