Professor Patrick Honohan:

Yes, I think we do. Now, first of all, there were always a lot of powers. We have strengthened those powers and made them more specific. We discussed a lot in the last number of years whether ... to what extent powers should be made specific. I took the view from time to time that it was better to leave the powers general rather than specific because if you ... if you ask ... go back to the Oireachtas and ask for very specific powers, the courts may subsequently interpret that as a decision of the Oireachtas not to interpret the general powers broadly. However, our approach has been to request a lot of powers and this ... especially the act of 2013, the Supervision Enforcement Act, made ... gave very specific powers on regulation. In addition of course, these big banks are all now being supervised by the SSM and so you have the European powers are brought into place, so that gives you not only legal powers but it gives you probably a greater degree of implicit power, with the weight of the SSM behind it. But I'm not just relying on that.