Mr. Derek Moran:

These issues are largely on the regulatory side of the bank and whether it has the capacity to assess and approve. Both the Governor and the regular have said that they are open for business and have the capacity to do it. As did Deputy Doherty, I have heard the possible range involved. There is opportunity, but how big will it be? More generally, if we were to look at it in the round, there is talk about financial services going to Frankfurt, Paris and so on but the risk for Europe and Britain is that a global financial centre such as that in London would go to New York. Strategically, that is the biggest challenge for everyone that moves outside of Europe, but that is a different issue. The bank has indicated that it will deal with these and that it has and should have the capacity to do it.