Ms Derville Rowland:

I propose to answer the Deputy's second question first and ask my colleague, Mr. Sibley, to address the first question in respect of the interim CEO.

Similar to criminal law schemes where discounts are applied for guilty pleas to avoid court hearings, the Central Bank has applied a 30% discount scheme for cases that settle and avoid the necessity of an inquiry that would take time, expense and, most important, the precious application of skilled enforcement resources that can be better utilised in, for example, pursuing individual accountability in tracker mortgages or any number of our enforcement division's serious and complex cases against firms. There is a well-founded public good in an incentive that sees firms accepting the matter through a settlement procedure, puts a transparent statement into the public domain for reasons of accountability and avoids the need to go to another complex hearing phase, which is part of due process and is the right of firms. Notwithstanding that, it is a significant public good if the enforcement staff of the Central Bank can better apply their time pursuing other important cases. It was for this reason the scheme's 30% discount was applied. That was in line with what criminal courts do with guilty pleas that avoid the need for a trial, which would add another burden.