Ms Ann Nolan:

Okay. This proposal ... I suppose, it goes back to what we were talking about earlier about moving all the deposits out of Anglo and INBS and then the following summer we amalgamated the two of them. Now, we then had, effectively, a run-off vehicle with very big European funding which was rolling on a two-week basis, which was very unsatisfactory. At the time of the guarantee ... at the time of the bailout, which would have been November 2010, there was some discussion about how the long-term funding of Anglo ... but no conclusion was reached at that time. So we had various options after we had amalgamated the two of them in summer of 2011. Various options were discussed, many of which didn't make very much sense but, from our own point of view, those discussions with the troika were very important because we knew we needed to get some resolution which would give long-term, not two-week funding, that we couldn't have a vehicle there ... you know, effectively for us, a priority was fixing it up or having a long-term solution before we left the programme. While you were in the programme, you had a kind of certain protection from the markets but you wouldn't have that when you left the programme so it was quite important to look at that. So it was, I think ... I genuinely do not remember who first suggested it, but I think it was at some meetings at the very beginning of September 2011, no, 2012, when the liquidation of Anglo was first discussed and suddenly it became possible because, because it's kind of almost legal theology that the ECB had, this was a more attractive solution to them than the other solutions we'd been putting forward. And it was ... had huge attractions to us as well, in that it would, effectively, remove Anglo or IBRC from the landscape, which was causing so much trouble for everyone. So we entered into discussions fairly intensively starting at the very beginning of September 2012, ourselves, the Central Bank and the ECB.