Mr. William Beausang:

Can I draw your attention to paragraph 11.1, which references the Honohan report, in trying to describe the assignment of responsibilities that arise in this context? So there you have, as the Governor said, IFSRA the body, you know in talking about dealing with financial sector matters, the responsibilities are first of all the Financial Regulator:

the body with the best knowledge and the condition of each bank;

the Central Bank, able to form a policy view on broader financial stability issues and the provision of liquidity;

[and then] the role of the Government relating to covering underlying losses via taxpayer support if necessary.

So that's the demarcation responsibilities.