Professor Patrick Honohan:

I did not explore this an awful lot but, from what I know, and I think the Clearing House Group still continues, it was a forum for communicating from the financial services industry to the Government and regulator what regulations and what facilitation of one sort or another would help the growth of the financial services industry. The role of the Central Bank there would be to fulfil part of its mandate, which was to develop the financial services industry.