Mr. Brendan McDonagh:

I think I instigated it. I clearly discussed it with Dr. Somers, who was the chief executive, and I think he had been ... had just gone on holidays to France. I think I might have rang him and said, "There's something happening here. Big hedge funds are beginning to fail who are attached to big banks. I'm just a bit worried, Michael, can we ... I think my view...". In fairness, Michael would be of the view that if he wasn't there and you were back at base and you were closest to it, he says, "Well, okay, let's do that and we can review it", because I was going on holidays on 10 August and Mr. Whelan was returning from holidays on 13 August, so there was always going to be somebody there. And he said, "We can review it with Oliver Whelan when you're gone on holidays and he comes back." And I went on holidays and I was wondering what was happening and then I got an e-mail from my head of risk, who was reporting to me to say that Mr. Whelan had a conversation with Mr. Somers and that, yes, as deposits matured, we would just take them back at the Central Bank until we got a bit more clarity or to see what was happening in the markets because the markets were acting strangely.