Mr. Fergus Murphy:

Thank you, Chairman. I don't recall the regulator discussing the macro-prudential point which is what you're talking about there, the actual growth year-on-year. The discussions were many and would have been illustrated probably quite well by the discussion I was having with Senator Barrett around that 3 March 2008 Financial Regulator letter around many small items, but important ones, regarding commercial property and our fitness in terms of the way the operating environment was executing property transactions in the building society. I don't recall but I may be wrong, I don't recall any specific conversations with them around annual growth.