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

All right, Mr. McCreevy I don't know if Senator Barrett touched on this or not but I just want to come back to it as well, that the memorandum of understanding between the Central Bank and the Financial Regulator dealt with the responsibilities of both the ECB, CBFSAI and IFSRA, and this was the structure that you were discussing earlier. Was there clarity in what should be dealt with by the regulator and was there an expectation that the Governor would invoke his rights under the memorandum of understanding and intervene with the Financial Regulator, and did this ever happen?