Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Okay, just on that note, can I just turn to, in respect of the booklet, page 11. I now bring in Deputy O'Donnell. And this just develops on from Deputy Higgins's comment there. It's the second panel of conclusions and it's the second paragraph:

We reviewed the Society's Credit Impairment Policy to understand and consider the Society's methodology [to determine] specific and collective provisions. We are satisfied that the methodology complies with the requirements of IAS 39.

That was in 2007; in around the time that you wrote that correspondence. I just need to just kind of measure how I frame this. By satisfying the methodology compliancies and requirements of IAS 39, was that sufficient in providing a true and fair view of the banks, in effect?