Thank you for inviting us to meet with you today. I am accompanied by Tony Grimes, the Director General of the Central Bank. Mr Patrick Neary, the Chief Executive of the Financial Regulator is accompanied by Con Horan, the Prudential Director of the Financial Regulator.
With your agreement, in my opening remarks I would like to recall the background to the current market turbulence and outline our approach to Financial Stability in the Central Bank and Financial Services Authority of Ireland, to summarise some of the main points from our recent Financial Stability Report, and to talk a little about the recent market developments and their effects here in Ireland.