Mr. John Corrigan:

That is a view that could be legitimately taken. We took a view that it was a major international institution and we also took the view that we would await the findings of the regulator. I should add that the committee here seemed comfortable with that approach. It was not suggested to us at the time that we should fire State Street on the spot. The view that was represented to us at the committee, which we diligently followed up, was that we should represent the concerns of the committee to the regulator and that we should send on a transcript of the hearings here in relation to State Street, which we communicated to the chairman of the regulator, and there was correspondence there. I can see the view the Vice Chairman is expressing but we discussed this the last time and we made it clear that we were of the view that we should wait until the regulator reported. The committee did not demur in that respect.