Mr. Paul Dobey:

We had extensive dialogue with the regulator, particularly in the latter part of the period. I have mentioned already the dialogue we had in January 2008. We had a dialogue with the regulator on 21 November 2008 as well and at that meeting, we were starting to have concerns around uncertainties in the system at that point and we spoke to the deputy governor, the deputy governor attended that meeting actually. We had a good dialogue with the regulator in that period and that dialogue was important, particularly in the latter years, the latter part of that period. However, I would say section 16 of the Central Bank Act 1942 sets out some very clear restrictions in relation to confidentiality requirements for employees of the Central Bank. I do not have all the details as to what their contracts say in relation to confidentiality but it was very difficult at that time for us to have a two-way dialogue. So we tended to go in, have a discussion, raise issues and we weren't really getting much back. Indeed, I think at that meeting, in February 2008, we were ... there seemed to be a little bit of resistance in relation to giving us assurances. Now, I understood why that was later, when we spoke to them in January 2009, because effectively it was the monetary authority we needed to speak to in relation to liquidity and not the regulator.