John Paul Phelan (Carlow-Kilkenny, Fine Gael)
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Thank you, Chair. Good morning, Mr. Boucher.

I want to at the start refer to exceptions to lending policy. There is a section in core document B2, pages 51 to 60 that deals specifically with it. Could you outline for the committee the level of agreement to exceptions to credit policy between the years 2004 and 2008 and perhaps explain why part of the solution at the time appears to have been there was a change in policy? And do you feel that those exceptions were sufficiently challenged at the time before they were agreed to?