Mr. Tony O'Brien:

I have said clearly that it did not comply with internal financial regulations. It was consistent with what was then custom and practice. From my view, having looked at it prior to this and more recently in the context of the Dignam report, it was consistent with the exemptions available under EU directives but they were not translated into financial regulations. However, in this space we have fully accepted the recommendation made in the Dignam report and such practices will not occur in the future.