Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Can we just leave that document on the board because ... 5.11 on the page and 5.12 on the page. 5.11 relates to the credit union movement as the "most significant prudential risk to financial stability during the relevant period". But I'm just interested in the process of that for a moment, Mr. Beausang. What it says is that issues were brought to the table by the IFSRA, such as concerns. Then, and we go on to 5.12, "This generated a major work programme". Now, what this is saying here is that problem identified, action taken, over those two things. Now, in your earlier testimony today, you said that systemic risk was the biggest issue facing into the guarantee period and lead up to the crisis period. Why was the same level of urgency not taken with regard to that problem? You've identified here that you had the ability to identify concerns and you have also identified the ability to be able to take action.