Mr. Michael Torpey:

While, Chairman and Deputy, I, you know, would respect the comments made, obviously, by Mr. Daly, I was operating within a bank, a subsidiary of RBS Group, which applied their controls, standards and processes, which were the controls of a very large international bank, on all of the activities conducted within Ulster Bank. I believe that the standards applied were of the best international standards. It's not to say that there weren't lapses or errors or weaknesses, as in any process driven by human effort, but as to whether there was a systemic laxity in the controls and processes operated by Ulster Bank, I have no reason to believe that there was any such laxity.