Mr. Cormac McCarthy:

It's a ... I mean, I can't speak for the current environment, I've been out of banking for four years now, Senator. But the regulator, both the Financial Services Authority and the Irish Financial Regulator would've had full visibility of our balance sheet, our funding and would've had a lot of, I suppose, conversations between themselves as regulators. So there would've been a lot of visibility and the regulator would have ... ultimately had sanction on any of those things, such as, for example, the 250% limit that you referred to earlier. So, it's complex, no doubt, and I cannot comment on what the current environment is like, but certainly at the time, despite the complexity, it was manageable. I mean, it would have appeared to me at the time that the regulator was comfortable with the fact that, you know, an institution such as Ulster Bank had significant external parentage and support. It led a lot of comfort to the capital strength and liquidity of the local institution.