Professor Patrick Honohan:

The Deputy will have to ask them. I know that he has asked them. I have the view - we have seen it in other countries - that banks are often too risk averse as they come out of a crisis. However, while I say this, I am conscious of the fact that they could have gone the other way.

In some respects, I do not think they were risk averse. I think they went back very readily to 90% and 95% mortgages.