Mr. David Doyle:

On that night, the money was running out.

The fear was that Anglo wouldn't open in the morning and the rest of the banks would be disastrously affected and there'd be economic chaos. There wasn't the time to go in and get a root-and-branch analysis from the ground up as to what the true financial position of the banks was. We were relying on what the regulator - who had been regulating all these institutions for so many years - presenting his view or the view of the regulatory machine, which is more appropriate to describe it, of the state of the banks, which was that they were solvent, profitable, well-capitalised and well-managed, I think, was the mantra.