Marc MacSharry (Fianna Fail) | Oireachtas source

Yes, okay. You mentioned also in your statement a formal proposal in August 2005 to introduce measures to address high loan-to-values ... "the proposal met resistance from senior management of the Central Bank and was shelved". Subsequent to your appointment as prudential director, you implemented the same proposal, which then met with a rebuke by the chairman of the FSICP, as you mentioned there again in your oral statement as well. Can you explain the nature of this resistance to your proposal by the senior management of the Central Bank?