Mr. Liam O'Reilly:

But the direct input would have been carried out by the director general, but he might have been asking for papers and various documents to support his view, but they were generally done by other members of staff. I wouldn't have been, if you like ... I came into financial regulation in 1998 for the first time, so there were a lot of technical stuff that would have been dealt with with staff. But I did have a concern about one thing only, and that was that financial stability and prudential ... macro-prudential stability is very difficult to operate if it's not within the system of regulatory-----