Michael Noonan (Limerick City, Fine Gael)

We are putting in €460 million, a sum of €280 million this year and €180 million next year because we think many of the claims are front loaded. We will receive the appropriate commercial rate of interest on this investment and members can take it that will cover the cost of State borrowing.

These things vary. On the CoCos we put into the banking system for recapitalisation, we will get a 10% coupon on that. I do not think it will be as high an interest rate as that, it will be at commercial rates, but I am sure it will be above the cost of borrowing.

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