Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Yes, and this relates, Mr. McGann, to a letter from the Financial Regulator to the chief executive of Anglo Irish Bank, dated 27 June 2007. And in that, 30 issues are raised by the Financial Regulator with the chief executive, and what would be considered as quite significant issues, particularly perhaps the extent of lending for land development, etc., and another significant issue, the exception to group credit policy. Now, can I first of all ask you to reconcile that letter with what you say on page 5 of your written submission, "I have no recollection of the board having received any correspondence directly from the regulator's office and I was not aware that the management received any correspondence from the regulator outlining any material concern or dissatisfaction about how the bank was operating its business model, its risk profile or its lending practices." Were you aware of this letter, Mr. McGann, and the concerns it raised?