Mr. Cormac Butler:

Basically, the deposit account was on behalf of a commercial bank but it was held in the Irish Central Bank. Therefore, the Irish Central Bank should have known or investigated what was going on. Basically it would appear as a deposit for the customer even though it was held by the Irish Central Bank. It would appear on the bank's balance sheet as a deposit and therefore the bank could say it had deposits with the Irish Central Bank, we have deposits with customers, therefore we are very safe.