John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Okay, I want to refer to AIB B2, Vol. 1, page 6 ... previous speakers have referred to it.

It's a reference to the then standards that existed, the Central Bank's licensing and supervision requirements and standards for credit institutions. And, this was particular focus on the 200% threshold for lending into one particular sector of the economy and 250% for two related sectors. The answer that has been given by most of the previous witnesses is that there was a process of change going on in relation to Basel II and Mr. Gleeson, last week, stated, and I want to put it to you, a direct quote, that "... this was not a regulatory standard. It wasn't a statutory instrument or a rule; it was a guide to assist us in supervision of the banks." First of all, I want to ask you did you see Mr. Gleeson's evidence last week?