Mr. Brian Goggin:

I wasn't familiar with the risk concentration framework that you've just described until I'd read it in the core documents and I might refer to the documents in a moment if I can remember where they are. But when I investigated the issue in preparing for today, I saw very clearly that there was a difference of interpretation in terms of how one would describe an economic activity or activities and which ones had a correlation to a predominant risk factor. In the case of Bank of Ireland, our submissions disaggregated three of the factors and broke them into two different buckets - two in one and one in the other. The two carry the 250% limit and the one carried a 200% limit. I looked at a letter written from the bank's regulatory unit back to the Central Bank in 2006 and, from memory, the bank was well within those limits at that time as described by Bank of Ireland.