Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Okay. If I can finally raise the issue of ... of practice note 19, which Deputy Doherty raised as well. So, this is where it goes beyond the statutory requirement laid down in the Central Bank Act 1989 but where the auditor may in circumstances where it concludes that the matter doesn't give rise to a statutory duty to report but nevertheless feels that in the public interest it should be brought to the attention of the regulator, to use your own words, Mr. Murphy. The group risk policy committee that Deputy Eoghan Murphy referred to on 13 December 2007, which is on page 37 of the core booklet, highlighted in pretty stark terms the concentration risk that Bank of Ireland was facing at that time. Was any consideration given by PwC to making a disclosure to the Financial Regulator under practice note 19, an additional voluntary disclosure about the level of concentration risk that Bank of Ireland was facing at that time in respect of lending to property and construction?