Enda Kenny (Mayo, Fine Gael)
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Question 158: To ask the Minister for Finance the meetings he held with financial institutions or other relevant personnel prior to the decision to issue a guarantee scheme to banks; the dates of such meetings; the institutions or personnel whom he met; and if he will make a statement on the matter. [2766/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The decision to introduce the Guarantee provided by the Credit Institutions (Financial Support) Act 2008 was taken after a prolonged and unfolding period of turmoil in financial markets characterised by deteriorating availability and cost of liquidity, which accelerated rapidly in the late summer and early autumn 2008. Throughout this period, and particularly in the weeks and months preceding the decision to introduce the Guarantee, the Financial Regulator had engaged in intensive liaison and monitoring with Irish credit institutions.

I consulted throughout this period with the Financial Regulator and the Governor of the Central Bank and had available to me the advice of my officials, the National Treasury Management Agency and independent legal and financial expertise. These discussions and consultations were ongoing and intensified in the period following the virtual freezing of credit markets in September. As has been widely reported in the media, I also met with the Chief Executives of the two largest domestic banks on the night of Monday September, 29th. As the Deputy would expect during a period of difficult conditions I and my officials engaged in discussions with a wide range of institutions in the period before and after the guarantee.

I dealt with this matter at some length in my Second Stage speeches to Dáil and Seanad on the Credit Institutions (Financial Support) Bill, setting out the background to and the Government's decision to act to underpin the financial standing of Irish credit institutions.

Enda Kenny (Mayo, Fine Gael)
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Question 159: To ask the Minister for Finance the meetings he held with financial institutions or other relevant personnel prior to the decision to introduce a recapitalisation programme for banks and financial institutions; the dates of such meetings; the institutions or personnel whom he met; and if he will make a statement on the matter. [2768/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The implementation of the Bank Guarantee Scheme, announced in September 2008, has given rise to detailed engagement with the banks. In the period since September I have, along with my Department, the Central Bank, the Financial Regulator and the NTMA, worked with the covered financial institutions to examine all options to maintain stability and the proper functioning of the banking system. This process has been comprehensive and structured, addressing such issues as the business plans of the banks, potential private investment, financial market expectations, and the role of the banks in supporting the real economy.

The Government's specific recapitalisation proposals were proposed following consultation with the Central Bank, the NTMA, the Financial Regulator and our legal and financial advisors and took account of consultations with the CEOs and Chairpersons of the covered institutions.

Enda Kenny (Mayo, Fine Gael)
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Question 160: To ask the Minister for Finance the meetings he held with financial institutions or other relevant personnel prior to the decision to nationalise Anglo Irish Bank; the dates of such meetings; the institutions or personnel with whom he met; and if he will make a statement on the matter. [2770/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The implementation of the Bank Guarantee Scheme, announced in September 2008, has given rise to detailed engagement with the banks. In the period since September I have, along with my Department, the Central Bank, the Financial Regulator and the NTMA, worked with the covered financial institutions to examine all options to maintain stability and the proper functioning of the banking system. This process has been comprehensive and structured, addressing such issues as the business plans of the banks, potential private investment, financial market expectations, and the role of the banks in supporting the real economy.

The Government's decision to take Anglo into public ownership was consistent with advice given by the Central Bank, the NTMA, the Financial Regulator and our legal and financial advisors and took account of consultations with the Board of Anglo Irish Bank.