Professor Philip Lane:

There will be a high degree of awareness of a significant number of court cases that involve regulated institutions. We would be aware of those. I think the Deputy asked if there was an automatic trigger and if the court finds that the bank was at fault, should that not automatically trigger a regulatory action. I do not think there is an automatic connection. I would say that how enforcement cases are initiated would be based on any information that comes to the bank, whether it is supervisory information or public information such as a court decision. That information would be relevant to how we think about enforcement actions. There is not a mechanical link but I think it is a reasonable-----