Brian Lenihan Jnr (Dublin West, Fianna Fail)

——let me be clear about one matter. Dated subordinated debt was guaranteed in relation to the two institutions that are most distressed — Irish Nationwide Building Society and Anglo Irish Bank. No dated principal sum on foot of dated subordinated debt was paid during the guarantee period, and indeed none falls due for a number of years. Hence, there is no loss to the taxpayer in respect of that guarantee because the sums involved were never paid out of those institutions, and we are free to deal with that issue tomorrow.

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