Ms Mary O'Dea:

The discussion at the board - after the budget committee - was generally to report on what resources were being allocated and what that would mean for the increase in budget at the time. That was really the discussion that took place at the board but also it is important to recall, I think, that if this was a model of principles-based regulation ... this was not a model of intrusive regulation and I think you'll see that later the Mazars report had said that resources were just about right in terms of that particular model which, of course, by the time Mazars came along, we were not implementing any more. So it was in a completely different context, I believe. If I may just though say that the second thing, I think ... affected the thinking within the budget committee was the inability to actually fill the vacancies that was there, so that there was really no point in approving additional vacancies when the ones that were there weren't actually filled. So I think that was the second part of the issue. And that's why ultimately, I think, they commissioned the Mazars report and they asked the deputy director general of the Central Bank, who was responsible for filling the various positions within his line of reporting, to attend the board meetings.