Mr. Ed Sibley:

The long-term sustainability of firms' business models is a core focus of supervision. There is tension between the short-term incentives and longer-term incentives. The Central Bank always endeavours to take a long-term view to ensure firms' business models are sustainable and they have sufficient resources over the long term, including plausible stress scenarios.

From a remuneration perspective, as Professor Lane has outlined, there are clawbacks in place for the banks for a number of years as to any variable pay they receive. That is less relevant to the likes of AIB, Bank of Ireland and PTSB because, under Irish legislation, they do not get variable pay but it is part of the regulatory system now.