Mr. Michael O'Flynn:

I think the practice was very similar on both sides of the Irish Sea, but I predominantly worked with the UK ... or with the Irish banks. I think, yes, there was competition. I think, unfortunately, a lot of lending seemed to have been based on personal guarantees, which seemed to have give comfort to the banks, albeit for maybe not the best reasons. And I think that ... I was ... I'm somewhat surprised by the level of competition that led to, maybe, personal guarantee style banking to the extent that it actually happened.