Mr. Joe Walsh:

In relation to the board, the Department of Finance, the Central Bank and the regulator let it be known that there was a need for renewal of personnel at board level and senior level in the banks generally and in the covered institutions, in particular. In relation to the board, in virtually all cases their term was coming to an end. The facts are that there has been that generation of new people at the higher echelons post-2008, including the board of Bank of Ireland.