Joan Burton (Dublin West, Labour)

On the same matter of banking related legislation, will the Taoiseach confirm whether legislation will be required in respect of the National Pensions Reserve Fund making investments in banks like Anglo Irish Bank, the EBS and Irish Nationwide Building Society? When will the Minister for Finance introduce that legislation in the House?

Yesterday, there was mention in The Irish Times that the Minister for Finance had extended a guarantee, presumably by ministerial order, to Anglo Irish Bank in respect of securitised loan transactions which were the subject of derivatives and, possibly, credit default swaps. Will the Minister bring an order to the House in respect of this further guarantee and will he specify the amounts involved?

When is it proposed to introduce the additional legislation on the transfer of the remaining loans for property, land and so on from the covered institutions to the National Asset Management Agency? I understand that legislation will be required in terms of the NPRF. Given this agreement, when will that legislation be before the House? Will the Minister undertake to provide a special debate tomorrow on the guarantee in respect of securitised transactions and derivatives in Anglo Irish Bank or will he introduce an order in the House, which would be the requirement, regarding those transactions?

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