Ms Ann Nolan:

The briefing note was written by the unit at the time. Obviously, since they were working to me, I would have been aware of the issues at the time. I think the briefing note which was written in a strong form indicated a certain frustration. I agree with the Chairman, but I think a number of the issues were written down in a hurry and with a great deal of detail and when we looked into them, we were able to satisfy ourselves. The point the Chairman raised, the one about which I was most concerned, concerned the concept of finding out late about things and not necessarily being treated in the most open manner. We decided that we needed to address that issue by putting somebody directly into IBRC who would be on its management board.