Patrick O'Donovan (Limerick County, Fine Gael) | Oireachtas source

I apologise to Deputy Doherty. I should have made this point to him earlier. The mechanism between the SBCI and the pillar banks is not included in the legislation because it is factored in through memoranda of understanding between them.

As to when it is envisaged the Government may wish to access the scheme, there is no date, but what I can say is that access to the SURE facility will depend on market rates and the maturity of loans offered by the Commission, and the Government will make a decision at the appropriate time. Having briefly discussed the matter with my officials here, it is anticipated the Government would access these instruments in the autumn. If the Government chooses to do so, it will be in the autumn.

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