Mr. Michael Buckley:

I believe I remember, Senator, what you're talking about. Yes, I think what happened, Senator, was that Jim O'Leary, at a board meeting in, as I recall it, sort of May-June sort of time in 2004, asked for a presentation about property and construction lending from a strategy, credit quality, etc., point of view, and a detailed presentation was made to the board in October of that year, which covered all of the ... which covered all of those issues, the business strategy, where we had got to, volume growth, and credit quality. And I recall that the presentation was made by, I think, three people. One was the executive responsible for that sector, for lending to that sector from a business development point of view, another was the head of credit in the Republic of Ireland division and the third person was a senior executive from the group credit committee. And, after a wide-ranging review of our activity, our strategy, etc., the credit officers there were asked were they happy with credit quality, did they believe that the risk mitigants that were present in the portfolio were appropriate, relative to the size of the portfolio, and they answered "Yes" to all of those questions. So, in other words, they said that at that point in time, which was, as I recall, October 2004, that the quality ... the credit quality of that book was sound as far as they were concerned. And, I think ... sorry, my recollection is that after the usual questions and challenges that the board expressed itself as being happy with what they had been told.