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

Mr. Hurley, I think this is the core of it. Is it your assertion that you did not have the power to issue direct policy measures to the Financial Regulator for implementation concerning, for example, capital ratios, sectoral concentration limits, loan-to-deposit ratios, wholesale funding dependancy, 100% residential mortgages? Did you have the power or not, in your view, to direct the Financial Regulator to take action on those issues?