Ms Fidelma Clarke:

Yes. So, absolutely, the regulator conducted regular - and continues to - inspections, where they come on-site, they request a number of loan files and they review them in detail, absolutely.

And on foot of that, they come up with a number of findings that you'll see through these core documents, that you'll have seen. For those not in financial services they can look, and are, extensive.

In terms of the responses, we have typically found that a number of the individual items can be answered by return so it's not the regulator inspection team doesn't see or can't find a piece of documentation when they're actually on-site. They have always been taken extremely seriously by EBS and I think they're response which I know is a draft version which follows from the letter on page 175, from the then chairman underlines that ... underlines the importance with which the society takes these findings. In this particular instance, I think there is confirmation that the policy was reviewed and ratified by the board in March 2003 and that it did take into account all of the prudent lending guidelines as set out by the regulator.