Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Can I go to EY - Vol. 1, page 31, which is basically your reporting requirements to the regulator in respect of 31 December 2008 accounts? And I want to reference this document back to your own internal memo, page 25 of the same document ... on page 27, paragraph 3. And you reference in it that - the paragraph I'm doing is paragraph 4 on page 31, "EBS internal reports indicate that it ha[s] not been compliant with this requirement on certain dates during March, November and December 2008". And you said, "Under Requirement 6.3, certain limits [as] prescribed for two separate time bands. In the second time band prescribed, cash [flows] are required to equal at least 90% of [the] cash outflows." And in your own internal memo on page 27, you say that "In a Big 4 meeting with the Central Bank on Friday 21 November ['08] the Central Bank representative twice stressed that [the] non-compliance with these tests did not mean a bank was insolvent." So, first of all, were you surprised with that comment from - or not from - the regulator and how did that feed into your review in terms of going concern for EBS for the 31 December '08 accounts?