Dr. Colin Hunt:

The regulatory environment is fundamentally different now. AIB is what is known as a systemically significant institution in the eurozone. We are a significant institution in the eyes of the ECB, primarily because of the role we play in the Irish economy. As a consequence of our status as one of the significant institutions, we are jointly supervised by the local regulator, that is, the Central Bank, and the ECB. We have a high frequency of engagement with them. I would say that not a day passes that some part of the organisation is not in touch with our supervisory team within the joint supervisory team. It is a very different operating environment from a regulatory perspective and, understandably, a very different operating environment from a regulatory perspective than would have obtained 15 or 16 years ago.