Mr. Michael Torpey:

I think, Chairman, firstly, in Ulster Bank we would recognise that there were weaknesses. I would, frankly, welcome the fact that we had a regulator overseeing what we were doing so as to bring these weaknesses to light, particularly in instances where we mightn't have identified those before then. To your point, I think the manner of engagement could have, in my view, have been different and maybe improved, but once these issues were highlighted, I can absolutely assure the inquiry that Ulster Bank will have taken them with the utmost seriousness. Any and every issue identified by the regulator to Ulster Bank will have been the subject of very close examination and scrutiny to ensure that we either ... that we in the first instance established the nature of the issue, established the facts to see whether the necessarily brief look the regulator had, had captured the picture in its entirety and, thereafter, to make sure that we addressed the issue, corrected the issue as such that the issue was not to recur. You know, we will have responded to the regulator's inquiries and the regulator to the extent that the responses were satisfactory, we'll have left the matter rest as you would expect. And if there were issues that were not satisfactorily addressed, the regulator will have come back on those issues and I am not aware of continuing issues from the regulatory point of view that were not addressed by Ulster Bank.