Mr. Dick Spring:

I will answer that question. If the situation which pertained when I joined the board of the bank had continued, I think it would have required a very formal reporting methodology. The situation has changed quite dramatically. It is primarily governed by the relationship framework document, with which I am sure the Chair is very familiar. That is the bible on the relationship between the bank, the Department of Finance, the Central Bank and the troika. There is continuous reporting of the bank meetings I have attended. I think I attended all the board meetings. The Central Bank has had a member of its staff sitting in on the majority of those meetings. The minutes of each meeting is given to the Department of Finance and I think it is given to the Central Bank as well, but the Central Bank is present. There is a continuous information flow. The management of AIB meet the Department of Finance on a monthly basis. The chief executive and his colleagues meet the economic management council on a fairly regular basis. There is a continuous flow of information between Allied Irish Banks and the Department of Finance and the Central Bank.