Mr. Denis O'Connor:

Well, to start, our team was not an audit team. We were totally independent from the auditors, so we didn't ... we weren't auditing the books. Like, our job, going back to basics, was more or less to go in and analyse what was in the loan books, be it concentrational risk or the number of individual borrowers, and assemble that information over the six banks and give it to the Financial Regulator. And that for him was new information, particularly over the six banks. And for all of us, the element of surprise when we saw ten borrowers more or less owing €18 billion was very significant, to everybody concerned at those meetings.