Mr. David Duffy:

It's a very difficult one to answer Deputy, but to do my best, in that environment, if they are ... a regulator is saying to you, as an institution, "It's a guideline", then you may probably behave in a way that could treat it as a guideline. I refer back to my statements previously which is that it is not for the regulator to set a guideline and for you then to just slavishly follow it, you must take into account that ... and if it's a rule you don't breach it, and report it if you do ... if it's a guideline, it's an input into your own risk management of the institution. So I would take a view that, at that time, if it's being implied that it was a guideline, not a rule, and there was some suggestion that it was viewed as out of date, people may have taken a position in the bank, but I'm not qualified to comment on their rationale at the time.