Eoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

Thank you, Chairman. Thank you to both the witnesses. Mr. Dukes, if I may, I want to go through your opening statement just to get clarifications on a couple of items in it. On page 3 of your opening statement, you talk about the actions that you had to take ... by the board immediately following the nationalisation in January '09 and the first thing is an immediate review of the bank's provisioning policy, which led to at the end of March, the conclusion that the recapitalisation required at that point was €4.5 billion rather than the €1.5 billion estimated by the Department of Finance in January. So why was there a difference in that short period of time?