Mr. Cormac McCarthy:

As I said in response to the Senator's question, there was ... the regulator in the Republic of Ireland had a 250% own funds limit, so we didn't want to breach that and, therefore, what we did was rather than inject capital into the Ulster Bank Republic of Ireland business, which was expensive for the RBS group, we used the capital base in Northern Ireland to transfer the risk in there and again, as I said, that was all done with the knowledge and agreement, for want of a better phrase, or non-objection of the regulator. So, the regulator was aware of what we were doing.