Mr. Patrick Neary:

Now, I mean, I know you're ... you ... you kind of began there in the year 2000-2001. That was long before the regulator was established. Now, in fairness, there was continuity of sorts from the Central Bank to the regulator. But we did have the financial stability committee and, you know, these issues were discussed and thrashed out there. But from the point of view of an individual institution, from our point of view, if we saw growth, right, which would indicate, certainly, that it might put pressure on capital, it might put pressure on funding, it might put pressure on impairments, I mean, we satisfied ourselves that there was adequate capital in place. There seemed to be no problem with the Irish banks raising new capital in the markets, and they all secured very high ratings, nor was there any problem with them raising funds in the market. I mean, the Irish banks were a minnow in the European financial markets. I mean, there was never any kind of concern that the financial markets would dry up and not be able to provide liquidity to the Irish banks as needed. Now ... but it is a warning sign, and I think it is a warning sign that, from a financial stability viewpoint, if you see all the banks, collectively, expanding their balance sheets at a great rate, you start to worry.