Brian Lenihan Jnr (Dublin West, Fianna Fail)

The current ECB interest rates on liquidity funding are 1.5%, as Deputy Rabbitte indicated. As I indicated, it will not be a focus in these discussions to somehow turn the State into a central bank lending at 4% or 5% at its own cost. These matters can be explored in the discussions. I understand that one of the issues in focus in the discussions was identified by Professor Honohan this morning, namely, the question of providing a contingency capital fund that can stand behind the banks as distinct from liquidity.

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