Mr. Richie Boucher:

I remember a series of meetings where we in particular asked what was the problem, you know, what was the roll-down, what was the cash flows, what was their market position - things that we would've in the back of our head with the bank. There were pieces of paper being flown ... thrown around the place. There was no coherent position ... of the problem we were being asked to solve at that moment or the extent of the problem going forward. I have to admit at some stage I said to my colleague, "We should leave this meeting". We said, "We can't carry on this discussion". So, I was extremely surprised and shocked to be honest about it. I'm not saying that we were perfect but the lack of understanding of the problem ... during the course of the afternoon it was more and more teased out as to, you know, what may or may not be the potential liquidity requirement. Eventually, we were asked to look at, from memory, I think a quantum of around about €4 billion and we fed back to the regulator that we weren't comfortable, that wasn't an accurate picture of what was needed, but even if it was, that we wouldn't be in a position to provide that - we were very uncomfortable taking on an exposure to that entity.