Mr. Cormac McCarthy:

Every situation would have been different Deputy, for obvious reasons, so, depending on the particular instance, there would be different levels of due diligence or various requirements, so every loan was different. But at that particular level you're talking about, that would have to have gone to an independent Royal Bank of Scotland credit committee, and as we have submitted in the papers to the inquiry there was a significant degree of due diligence required for credits of that level across the Royal Bank of Scotland group, and there would have been a significant amount of information provided to the credit committees. As Deputy Doherty's questions have arisen vis.what the regulators asked us of, there was quite a degree of independent oversight.