Mr. Michael Torpey:

Deputy, I would be far from claiming that Ulster Bank was perfect in every respect. There is no doubt that files, which are bulky and complex affairs, and indeed back ten years ago tended to be even far more manually compiled than they are nowadays, it will have been challenging for the inspection, in the space of a few days in the building, to trace through all of the documentation on a file. You know, I note from your quote that they found that the files had insufficient documentation or there was no evidence. So I think ... I know that the bank will have addressed these queries very specifically and resolved these queries in an extensive fashion. To your comparison with NAMA, frankly it's impossible to comment upon that. NAMA did not have any engagement with Ulster Bank, so NAMA's experience has ... bears no relation to the position in Ulster Bank and NAMA furthermore was in commercial property.