Mr. Brendan McDonagh:

Well, like ... every meeting, Senator, that we went to, everybody around the table, other than the NTMA, everyone was saying "if only the NTMA would only increase their deposits to the financial institutions, this would be a great help to the system" and we kept retorting back, which was our mantra, it was saying "Central Bank, you're the lender of last resort, why don't you give more money, why don't you increase your deposits back into ... back into the banking system, because you're the lender of last resort?" It was a game of, I suppose, cat and mouse going on really, but we were sort of saying ... it almost was like a mantra at every meeting, "Why won't you increase your deposits?" As if we're going to come along some day and say "Okay we give up, we'll increase deposits with institutions", which we wouldn't do.