Ms Mary Burke:

My view is we had a number of powers. We could have set ratios; we could have set requirements regarding the composition of assets and liabilities; we could have imposed conditions on bank licences. I have already spoken about the fact that, obviously, there would have been the level playing field issue with the branches. The extent to which and how you would have gone about doing that I’d have to think imaginatively as to the wording of any particular rule or requirement but I presume ... those are fairly broad powers and it certainly allows for the scope to do something. Whether it would have been able to halt it or not, I can’t say.