Brian Lenihan Jnr (Dublin West, Fianna Fail)

The Government is committed to meeting the capital requirements of the relevant institutions through the issue of a promissory note and plainly such a note will require to be issued before the end of the year. The capital figures have already been disclosed in the announcement on 30 September. As I indicated in my supplementary response to the previous question, I am open to constructive suggestions about how the interest structure in the notes can be devised. However, any such interest structure must carry credibility in terms of the core objective of providing for the capital requirements of the institutions concerned.

In regard to NAMA bonds and the zero coupon rate, that was a different arrangement and the EUROSTAT treatment has been very different. We discussed that issue at length during our parliamentary debates on NAMA.

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