Michael D'Arcy (Fine Gael) | Oireachtas source

Thank you, Chairman. Mr. O'Connell, on page 4 of your written statement, you state, about halfway down through the second paragraph:

Around that time, a memo was sent from the economics function in the bank to the then Governor recommending that bank lending to the property sector needed to be reined in; for many years in the past the Central Bank imposed credit ceilings on banks in the interests of prudence. The response to the note was that the Governor would have to consider bringing the proposal to the board. However, at the top of the note were the words, evidently added subsequent to the first comment, "That is out of the question". (I have a copy of that memo.)

Could you provide that memo to the committee, please?