Mr. Patrick Neary:

In August ... towards the end of August 2005, yes 2005, Mr. Horan presented a proposal to me where he wanted to introduce higher capital requirements for higher-value mortgages. That is true. And I accepted his arguments and I took them forward to the then chief executive and discussed with him and I proposed that perhaps we should take a paper to the authority to give effect to Mr. Horan's proposal.