Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Okay. Can I raise the issue of the placing of deposits by the NTMA in the Irish banks and the decision that was made in August of 2007 to cease that practice and as deposits matured, that you wouldn't be renewing them and you would be placing them in the Central Bank. Can you outline your thinking at that time? Was it concern with the Irish banking system, the global banking system ... what was driving that decision?