Mr. William Molloy:

The root cause of this was that the Department and Central Bank did not identify in real time that a breach was going to occur. We have now put in place processes to ensure in real time that every time a payment order comes in from the Department of Finance, we directly refer to the outstanding grant of credit and then update it in real time. Effectively, if there is a grant of credit of €1 billion outstanding and payments of €600 million come in from the Department, we agree in real time that there is €400 million of the grant of credit left. That is done as the payment is being processed. There can be no difference, then, between the Department and ourselves regarding the grant of credit. This issue should not arise again.