Mr. Jonathan Sugarman:

We were a subsidiary of UniCredit Milan. The dynamic between parent banks and their subsidiary children banks are, I am sure, unique to each but there are formal legal regulations that govern this. It is not by chance that Deutsche Bank turns up here and says it wants to open a bank. Who is Deutsche Bank? There are forms, regulations, procedures for all of this. That is why I am surprised that Mr. Lenihan said to Senator Norris that the central banks fully co-operate with one another yet, when contacted, the Governor, Mr. Draghi, said he had never heard of this.