Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

In your statement you suggest ... its in the very last line of your statement:

The solvency of credit institutions was an issue of concern throughout the crisis. It was vitally important to the management of the crisis and was, therefore, subject to ongoing consideration within the CBFSAI. The various audits and other forms of analysis undertaken at that time were suggesting that the banks were meeting their solvency obligations.

So, in that regard, we had auditors in here last ... they didn't pick up the crisis that was coming down the tracks. In fact, all the banks that they were auditing, each and every one of them, were on record as saying that it came as a huge surprise to them. None of them saw it.