Mr. Liam McLoughlin:

May I just reiterate the point? It is very hard to state everything in one paragraph. There are 100 pages in which the risks we face as a business and the framework we have in place are very clearly articulated. I could not emphasise it enough. To say the regulator, the SSM, the joint supervisor team from Frankfurt and the Central Bank of Ireland are in daily contact would be an understatement. There is very close scrutiny and the bank aims to work in a very constructive way with the regulator. The comparison between now and then is chalk and cheese. Our investors, our board and our court risk committee are all over this. It is very hard to answer in one paragraph, but how the governance works is set out-----