Mr. Aidan Carrigan:

First, I will deal with the issue of bonuses. I mentioned earlier that it became a key element of the conclusion of the capital requirements directive. We are directly involved with the negotiation with the European Parliament, which pushed very hard for a cap on bonuses, and now there is a fixed cap which was agreed by Council. A large majority of member states supported this concept at the Council. There is a broad view across Europe on the need to control bonuses. There was an effort to try to focus on long-term incentive bonuses which could be clawed back depending on the performance of the organisation over the long term. It was seen as a positive development to move towards this type of performance bonus.

I am afraid the issue of public interest directors is outside the brief today but I understand they appeared before a committee. Was it this committee?