Mr. Liam O'Reilly:

And the reason I was peripherally involved in it ... it wasn't felt appropriate that someone who would be working in financial regulation should be involved. So it was the director general of the Central Bank at the time involved himself, but that didn't mean that we were ... were not involved in discussions. And I know that there were discussions about worries that if the Central Bank functions of lender of last resort, of money market operations, of providing liquidity ... if there was a separation between that and actual day-to-day regulation, it could have caused disruption problems in the event of the institutions being separated.