Eoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

I wish to turn to the role of the Central Bank and the financial regulator. In his report Mr. Nyberg states, "[W]hen confronted with the information that was available to these authorities throughout the Period, it is safe to say that vigilant authorities should have been much more concerned by the end of 2005". He goes on to state, "Even in the absence of in-depth analysis, by early 2006 information from the covered banks would have shown the following" and he lists domestic lending doubling since 2002; exposure to wholesale markets increasing threefold in the same period; four of the six covered institutions exceeding limits for property-backed lending and "significant lending concentrations" to a small number of people.

Could Mr. Nyberg comment on that? I want to highlight his language - "vigilant authorities" and also "even in the absence of in-depth analysis".