Mr. Paul Gallagher:

Well, the problem was identified as being illiquidity and I think it's true to say that - this is a matter that has arisen before the committee - in normal company terms, you would say about normal businesses if you can't pay your debts you're insolvent. But of course, banks are different because ... that's why you have emergency liquidity. There are times when banks need liquidity to meet their obligations. Their assets at a balance sheet level make them solvent but that's why you have emergency liquidity for the very purpose and that is given to solvent banks.