Marc MacSharry (Fianna Fail) | Oireachtas source

This is a little like the banks' announcements on lending figures which do not feature details of applications that have not been fully processed. Is that it?

Another question arises in terms of the Central Bank's investigations. Property investment syndicates were not regulated in the relevant period. From speaking to people, did Professor Honohan believe this issue should be addressed? Real estate investment trusts, REITs, for example, are now regulated. The unregulated syndicates were able to borrow money from all sorts of people and this played a part in causing the crisis. Did Professor Honohan, in doing his report, believe there was a need to regulate property investment syndicates?

At the risk of being out of order for this meeting, can the Governor outline whether there is an intention to bring forward regulation? I happened to note that as of today, there is none.