John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

-----page 45. Yes, it's the annual report from 2003. It's a reference in the middle of that middle paragraph about aggregate private sector credit:

... aggregate private sector credit increased strongly last year - the increase ... being almost 16 per cent - and the rate of increase has accelerated into 2004. There is clearly a limit to the extent that borrowers can sustain rates of credit growth that are substantially above nominal increases. [And it further goes on to state that] In the light of this, the Irish Financial Services Regulatory Authority will continue to liaise closely with the banking sector to ensure that [the] adequate [...] that adequate account is taken of lending risks.

Can you outline for the inquiry what form that liaison took place?