Mr. Frank Daly:

First, I must say that the process is extremely tight. If one was in NAMA and wanted to do this, the more obvious way would be to try to download it on to a memory stick which is totally prohibited - one just cannot do it - or to try to send it out as a file to one's own personal e-mail account. One simply cannot do it. Given that we obviously we have a day-to-day working relationship with companies such as Ernst & Young, where his wife worked, Mr. Farrell sent it to her at their corporate account. That is how it escaped.

We have instituted a review of IT security. We have to be proportionate in our response because we cannot tie ourselves up in such knots that we will be back here before the committee explaining why we are not doing transactions, undertaking business and getting bureaucratic or non-commercial. I can assure the committee that in so far as there is anything to be done - it is reasonably limited - it will be done as a consequence of that.