Mr. Padraic Kissane:

First of all, he is new in the post. The powers granted in 2013 allowed the Central Bank the opportunity to carry out an investigation in this regard. Before that, the difficulty I would have had in the broader banking aspect was an acceptance that the lenders, the banks, were doing matters right. We saw where that led. Let us go back to the situation of the lack of governance. Governance is in place but it can only be properly applied if it is accepted by the banks. The drive for profit is what caused all of this. Now, the Central Bank realises that it got caught. I believe it was beholden on the banks to be fair in their replies to the Central Bank as well. The letters were written. The 2010 letter is a perfect example. They were told to investigate.