Mr. Con Horan:

I think the best ... there is examples given in Governor Honohan's report, I think, where on one occasion and with a particularly difficult institution, in 2004, and I think again in early 2008, we increased the solvency ratio on the bank from - I won't give the numbers - but we increased it by 1%, which was a pretty significant, and I think Governor Honohan called it a noteworthy intervention.

So there were things that you could do, even though in 2004 we didn't have administrative sanctions powers, there were actions that we could take to penalise poor behaviour in banks and that, I think, is an example that would have had a significant impact on the institution. The institution involved appealed that but-----