Mr. Cormac McCarthy:

That's one way of looking at it. Let me put it a slightly different way: if the regulator had insisted that we do something else then we would have injected the capital into Ulster Bank Ireland Limited to deal with that. So if the regulator had come to us and said, "We don't want you to do this," and could support that argument ... "We want you to actually hold the capital in Ulster Bank Ireland Limited," then the capital would have been provided, as it was in 2007 when the regulator increased the limit and we supported the transfer with capital.