Lord Turner has insisted that regulators are not to blame for the exposure of British banks to Ireland's economic crisis.
The chairman of the Financial Services Authority was giving evidence to the Treasury Committee on 23 November 2010.
The committee was also taking evidence from FSA chief executive Hector Sants.
MPs asked Lord Turner about the situation in Ireland, where Britain has agreed to provide £7bn in aid.
The money, announced by the government this week, will help Britain's neighbour and trading partner shore up its banking system.