All of the other ELA debt was contracted under the Facility Deed which according to the Anglo Irish Bank Annual Report 2010 is an unsecured loan facility guaranteed by the Minister for Finance who separately benefits from a counter indemnity from the Bank should the guarantee be called upon.

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In theory, the liquidation of IBRC and enforcement of its security by NAMA should mean that the Ministerial guarantee and counter indemnity from IBRC to honour this guarantee are in place and the enforcement of NAMA on its security in the acquisition of the Facility Deed ELA means the indemnity on the IBRC assets to honour the ministerial guarantee comes into play.

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