Ms Mary-Elizabeth McMunn:

That was something Senator Higgins raised with us when we were here in June in relation to our role in anti-money laundering and terrorist financing. It is something that we set out for her in our subsequent letter. I am going to be very clear from that perspective. We are the competent authority in terms of the compliance of institutions with money laundering and terrorist financing. We do not investigate actual money laundering or terrorist financing activities. Our role is to ensure the institutions that are under our remit have the right controls and systems in place from that perspective. We are also obliged to report to the Garda if we have any knowledge or suspicion that a person has engaged in money laundering or terrorist financing activity. We do not monitor the source of funds for holders of bonds approved under prospectus regulations. That is not part of our remit in terms of anti-money laundering and terrorist financing.