Ms Mary O'Dea:

With hindsight, I think 100% mortgages were not a good product and the reason I think that is because I think they gave the wrong signal to the market in relation to what was acceptable and what was not acceptable. And I fully support the actions now taken by Governor Honohan in relation to this. At the time, 100% mortgages were introduced, what we did at that stage was say, "You can only sell them to customers where they can afford them and where they are suitable", and that warnings had to be given in relation to negative equity. So that's what we did, if I can distinguish, at the time, for hindsight.