Mr. Dermot McCarthy:

In an early... I cannot say how early, but in an earlier version of the text, certainly it did refer to the Financial Regulator confirming that all of the institutions were solvent. But I do recall in the discussion that the regulator was uncomfortable with that, not because he didn't believe it but because in effect a public assertion of that in a Government statement would carry market implications. Now, I saw Mr. Sheehy's evidence to the committee and I have no doubt there was also a parallel, perhaps, conversation, but I do recall the regulator being unhappy that that would be expressed in that way.