Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Okay. Just to clarify one final point, Mr. Neary, and I think it's important from an evidential point of view, Mr. Horan's statement yesterday that he made formal proposals in August '05 for higher capital charges for high loan-to-value mortgages were not accepted as they were not considered by senior management in the CBFSAI to be necessary. Subsequently, they were implemented, in 2006, but can you just clarify, they were not accepted by whom?