Mr. Brian Cowen:

I think ... I've checked up on this, because I know it was an issue that was coming up constantly with various personnel in the inquiry. I have to say it wasn't something that was ... I had a lot of detailed knowledge of, over, you know, when you're dealing with so many things, budgets and everything else, this particular issue wasn't one that I ... was at the forefront of my mind. But, I'm satisfied that, based on the conversations I've had and some of the documentation I've seen, that it's not correct to say that the Department changed the mind of the regulator on this. The regulator had made his decision to defer pursuing this issue and going for more consultation with the industry. Now, maybe he should have said, "No, I'm not doing any more consultations with the industry, I'm going to do something else", but anyway, that's what happened, and, I've been assured by the Department that, certainly, there was no proactive view on their part. They were prepared to go with what ... the regulator's decision not to proceed. Now, in the ... as you know, there were other legislation being prepared, comprehensive financial services legislation. Sometimes that's usually a method of deferral of something when you really need to probably deal with it there and then, so ... I ... I'm just satisfied that it wasn't something that exercised the minds of the Department to the extent that they went down to the regulator's office and said, "We're not having this." That wasn't the case.