Mr. Liam O'Reilly:

And just to repeat what I said in my opening statement, I made a statement in July saying that if you're giving away 200 ... 100% mortgages, you shouldn't be giving them to people that can't afford them. And I said that the banks must make sure that the ... that the ... that there is an ability to pay, etc., etc. So we were concerned, we were ... continued to be concerned. I suppose the big problem all the time is: what instruments were we using to put a stop to this? And, even in 2007, there seemed to be an awful lot of soul searching as to what could be done. And moral suasion and capital ratios ... or capital requirements were the two things that were being mentioned and they had little effect.