I think I want the long and detailed explanation to which the hon. Gentleman referred. What I want to know—this is not about the first part of clause 4(2), which I understand, about
“security for money which it borrows”—
is how
“the payment of which it guarantees, or in respect of which it gives an indemnity”,
first, improves TfL’s financial position, and secondly, does not create risks to TfL.