Mr. Eoin Dorgan:

Ms Cotter, Ms Curtin and I met the BPFI. To be honest, its position was no different than what it laid out to this committee. We have been surprised by the number of UK firms that view the UK's equivalent of the senior managers regime as a positive. Our analysis, and I believe it is also the committee's analysis, is that what has been proposed is what one would expect in any corporate setting. The feedback from the industry, in particular from management and board levels, is that it is reassuring to have mapped out who is doing what in the bank.