Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Thank you very much. If I could just, maybe, deal with two matters myself. I just operate with the books at the moment, with you, Mr. McGann, and it relates just to ... it's Vol. 1, page 58. It's an extract from Anglo's risk management report 2008 and in it, Anglo's monthly risk management report notes on the continuous basis that the bank is in excess of the Financial Regulator's single sector exposure limit. This should be 200% of own funds. This is concentration limits lent out, that a bank should be in one area and in another area they can ... to use a phrase you used earlier, apples and oranges. You don't put all your money in apples; you lend out to apples and oranges and other types of fruits. But in the July '08 report noted that the exposure was 587.88% of own funds. So, maybe if I could put the question to you Mr. McGann that as an independent, non-executive director, were you concerned at the level of exposure at any time and did you raise these concerns with management?