Mr. Oliver Gilvarry:

One would see - not so much from an Irish perspective - that insurance companies, for example, were purchasing properties. As they would have long-term liabilities, in the context of serious illness cover or classic pensions where future payouts are being guaranteed, they would want to place long-term assets against them. There would be purchases of fiscal assets or, at times, loans. One would see the large international insurance companies doing this. From an Irish perspective, this activity would be limited. With regard to the money market funds industry in Ireland, the funds industry, financial vehicle corporations fall within the activities the Financial Stability Board has identified in particular credit facilitations.