Mr. Colm Kincaid:

We have been very involved in the discussions and work of the European Banking Authority. It made a series of recommendations for the Commission and had an input into its work. The Commission has digested them and they are now featured in its policy proposals. We have been very active in the policy discussion and have very strong engagement with Banking & Payments Federation Ireland, the firms we regulate and the State agencies. Now that we have the policy proposals at EU level, there is a wider policy discussion to be had within the State as to what we want our approach to be. Regarding our ambition for where we go from here, we can of course continue to do the work we are doing under our particular remit, and we will. We have a retail payments forum ourselves but that is within the remit we have.