Brian Lenihan Jnr (Dublin West, Fianna Fail)

I will further deal with this matter in the announcement I propose to make tomorrow on the banking system.

The second matter raised by Deputy Noonan was the position of holders of subordinated debt in Anglo Irish Bank. I touched on this issue in my reply to Deputy Rabbitte and again I will deal with it in the statement to be made tomorrow on the banking system.

The third matter was the question of the original guarantee of 29 September and the state of knowledge of the Government on questions of solvency and capital at that stage. I do not question Deputy Noonan's good faith in any respect in this regard and I did interrupt him when he made his contribution. The fact is that the basis for the story that somehow there was wider knowledge of the capital and solvency difficulties in Anglo Irish Bank in September 2008 is traced back to an alleged conversation with an alleged official at Bank of Ireland who has never been identified or who has never given particulars of the conversation. I have made it clear that if such a conversation took place that the person involved should report the matter immediately to the Garda Síochána because were it the case that directors of Anglo Irish Bank disclosed to another official that they were aware of the insolvency of their institution as early as September 2008, they would have exposed themselves to considerable criminal hazard. I know this is a matter about which Members of the House are very anxious, and Deputy Noonan indicated that he is anxious to have the present investigation proceeded with as quickly as possible.

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