Ms Mary Burke:

I again will stick to the terminology I have used. I have not talked of a cosy relationship ... it's your phrase that it was dysfunctional. I would say it was frustrating for people at an operational level to feel they had to not only argue the issues with the banks they supervised but also have to argue ... some of them, not all of them ... it wasn't every decision we ever made just to be clear on that ... but if you're already arguing with the banks, to have to argue with the people that you feel should be on your side was frustrating. I think people felt undermined by the fact that you would see the CEO of a bank in at reception. It was a bank you supervised and you would come to me and say "Do you know why they're in?"and I would go "No, I have no idea." I think that did undermine people. Whether ... I don't ... it wasn't ... it didn't feel ... and perhaps you just become used to the system you're trying to work within. It didn't feel, you know, hugely dysfunctioning ... dysfunctional, I beg your pardon, it felt frustrating. I'm not suggesting there was anything inappropriate in the relationship. I've already explained that I don't have an issue with senior executives escalating matters internally within the bank or within the regulator, but I do feel that the people at the front line dealing with it should have been involved in any subsequent discussions with those senior executives.