Mr. Brian Cowen:

Yes, well, I think what I was ... what we were doing for the previous 12 months before that was managing the situation where the Central Bank was working with the individual institutions, making sure they were organising collateral that was eligible for liquidity support should they need it. And some needed it at different times of the year, or at different periods more than others, and that was a fluctuating situation. Now, saying that, the total amounts, coming to July, was about €15 billion in total for Irish banks. There was a lot of non-Irish banks who were getting a lot more liquidity assistance than our banks were getting, because the total amount was €44.5 billion for banks in Ireland. So, €15 billion of that was, if you like, what we call Irish banks. So there was ... it was being managed. The situation was, as I said before, this liquidity squeeze, if you like, went on ... it was the longest one that went on since 1945. It wasn't initially thought that it would go on that long and that it's something that had to be managed. Again I say to you that the regulatory authorities were informing the Government that the ... they had done ... they were doing stress tests. You'll know about stress tests. It's mentioned in the Honohan report where interest rates go up another 2.5%, what would be the position, etc., etc? And all of that was indicating that the banks, whilst managing, while there were difficulties, the background was we were getting through this.