Professor John FitzGerald:

My understanding is that at a senior level in the bank it was felt that the stress test was not stressful enough. It is kind of ironic. They felt it was necessary to do a proper stressed economy. One needs a model to do that properly and AIB approached us to ask if we could do it. I said, "Actually we have done it already, here it is and you go off and use it". What happened thereafter is something the Deputy will have to ask AIB, but it was interesting. It was not just among economists in AIB that there was concern. It was at a more senior level.