Joan Burton (Dublin West, Labour)

Can the Minister confirm that senior debt issued by the covered institutions before the commencement date of the new extended liabilities guarantee scheme, 9 December, will continue to be guaranteed on 29 September, the anniversary of the guarantee, when it is meant to expire, but will then cease to be guaranteed under either guarantee scheme? Alternatively, is it the Minister's intention to exercise his prerogative under the primary bank guarantee legislation to extend beyond 29 September the guarantee for the senior debt issued by the covered institutions before the commencement date of the new ELG scheme?

What level of senior debt issued by the covered institutions before the commencement date will mature on or before 29 September? Will this debt be refinanced under the ELG scheme? To what extent are institutions engaging in maturity swapping under the full guarantee to the ELG, rolling over the guarantee in tranches?

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