Mr. Edmund Honohan:

It is possible that the Central Bank, having been given the job of regulating, could step up to the plate and say, "Okay, we will regulate in plain view. We are going to set out new code. We are going to have a mechanism for an audience for advocacy." A TD could come in and say, "I have got Mr. McGillicuddy who wants whatever and he has made this offer" and they said "No.".

The Central Bank should then say that it is now recording that and that if there is a pattern, those involved will be fined.