Mr. Peter Nyberg:

The DSG was supposed to be an information-sharing and co-operation place for the Department of Finance, the Central Bank and the Financial Regulator, so that there would be people from each of these institutions sitting together and looking at the same issues, which they normally would not have been doing, except more or less by chance in the joint board of the supervisor.

In the DSG more operational people could meet. Deputy O'Donnell said quite correctly that the DSG was involved with a resolution regime, but it was not the DSG that worked on the resolution regime, it was the Department of Finance that started thinking about the resolution regime in 2007 after Northern Rock.