Eoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

The authorities. Okay. What I'm wondering is at what point, though ... at what point should the authorities have gone to you, given the work that was done? I mean, if you look at the scoping paper again from Vol. 4, it outlines three scenarios. One is an institution that is illiquid but solvent. The second is an institution that is insolvent or approaching insolvency and, on page 7, it says, "If a period of illiquidity continues it is likely that a illiquidity institution will move closer to insolvency", and scenario 3 is ... I can't find it here, sorry, but it's where it might be a case of either, but they can't tell because there's so much market turbulence at the time. So, this has been looked at in January of '08, insolvency potentially is mentioned and, in March, three months later, you have the Financial Regulator and the Governor of the Central Bank clearly worried about the liquidity position of at least two banks and looking for private sources of funding because they don't want to risk public funding and they don't want to risk ELA.