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

-----I think it is paragraph six, it relates to meetings with the Financial Regulator and the Central Bank, well actually I think you did reference them earlier, obviously this is a meeting concerning the guarantee as well. You, it stated and I want to direct... directly quote it. "Regarding ECB collateral criteria, he informed the Governor that the CBI and the Financial Regulator (FR) had done all they could to achieve a change in ECB rules, but without success."

Can you elaborate about what "done all they could" meant, and do you have any more details on the extent of that and on, perhaps, the nature of your relationship at that particular time with the Financial Regulator?