Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Last year, the Central Bank wrote to Ulster Bank to set out its clear expectations. Earlier this year, the director of consumer protection in the Central Bank, Colm Kincaid, said that banks are not where they need to be. Just yesterday, Ms Howard attended a round table discussion for CEOs.

It is clear the Central Bank does not believe that the banks are up to scratch, in terms of where they need to be. Ms Howard, as CEO, decided to pull the trigger to issue 120,000 letters telling individuals that they need to close their accounts despite all the evidence across the banking sector - she does not operate in isolation here - indicating that we are not ready. Does she accept that was a mistake at this stage?