Professor Philip Lane:

Let me make a few points on the opening remarks of the Chairman's contribution. We are public servants.

We have only one mandate, namely, to serve the public by delivering on the requirements set for us by the Oireachtas to protect consumers and ensure financial stability. That is the only motivating force for what we do. In delivering that mandate we have to make assessments of the prudential health of the banking system, in addition to conduct. We have the same motivation as Oireachtas Members, namely, to do what is best for the people. That is all we care about it. We have listened carefully to everything members have said and take correspondence from Members of the Oireachtas very seriously. We go to great lengths to be as complete and comprehensive as possible in following up on matters communicated to us. It is helpful to us to receive information from Members on issues of conduct and whether the banks are behaving correctly.

I find the Chairman's comments on receivers and perhaps other agents interesting. If members explain what information they are collecting in that area, it will be interesting to think about the issue. If something is being used as a kind of an escape route around code of conduct, we can examine the matter. We can pursue any matter related to conduct. Ultimately, however, the issue is one of outcomes. Will the bank in question restructure a debt? Is someone-----