Kathleen Lynch (Cork North Central, Labour)
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Question 61: To ask the Minister for Finance if an actuarial or similar analysis was carried out with respect to the aggregate level of liability taken on by the Exchequer through the credit institutions guarantee scheme and the annual cost of such a guarantee on the open market; if he will provide details of and publish the results of such analysis when they do not impinge on the commercial sensitivities of any particular bank or credit institution; and if he will make a statement on the matter. [38810/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The guarantee has been introduced to remedy a very serious situation in relation to the financial institutions, for the benefit of the economy as a whole. The charge for the provision of the guarantee is derived from the Government funding cost.

While it would be possible in theory to estimate a market value for the guarantee, such an estimate would be based on a number of important assumptions. In practice, there is no market providing the type of guarantee scheme which we have introduced and it is doubtful if any market price estimate could be made reliably or accurately.

Arthur Morgan (Louth, Sinn Fein)
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Question 62: To ask the Minister for Finance the meetings or correspondence he has had with the chief executive of the Irish Financial Services Regulatory Authority since the announcement of the credit institutions guarantee scheme; and if he will make a statement on the matter. [38662/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I have regular contact with the Financial Regulator as circumstances require. In addition I am kept closely in touch with developments through ongoing dialogue at official level.