As I have previously outlined, certain tracker bonds sold to credit unions which were liabilities of IBRC at the time of the liquidation have a structured deposit element which is covered by the Deposit Guarantee Scheme (DGS) for that element of the product. As a result the first €100,000 of any claim from these depositors is covered under the DGS. The products purchased by some credit unions were not covered by the Eligible Liabilities Guarantee (ELG) Scheme and there was no other State guarantee attaching to the products. Unfortunately, if a product is not eligible under the ELG Scheme, the holders of the product rank as unsecured creditors in the liquidation, in accordance with Irish company and insolvency law. Credit unions and other fixed deposit holders affected have been advised to deal with the Special Liquidator in relation to this matter. Any discussions between the Special Liquidator and IBRC fixed deposit holders is a matter for the Special Liquidator and those deposit holders.