Mr. John Dunne:

Well, I think the biggest manifestation was in the analytical area, where in the previous incarnation the bank had it all within its own remit, so its economic staff and its regulatory staff were all in the same organisation, and the one fed into the other, as I understood it, pretty seamlessly. In the new situation, and as things developed, the pressure on the regulator for regulatory issues, as distinct from helping with the analytical side of things, was growing and growing and growing and the numbers of staff in the area of analysis was being poached, if I can put it that way, to staff up in the other areas. And so, at the end of the day, there was much greater reliance on the bank side but they felt, as I understand it now in retrospect, that they didn't get the sort of information from the regulator that they should have got and here's an example where things were falling down between the cracks under the new structure because of the confusion over who was responsible for what.