Mr. Barry O'Leary:

That does not relate to mortgage business but to loans we have given to local authorities for land acquisition. We gave them a facility of between three and seven years in which they could have interest only and the assumption was that during that period they would develop the land and build houses on it. That assumption no longer holds and they are now in a position where they have land which they will not build on for which they do not have a particular use. We rolled it over or renegotiated - whatever term the Deputy wishes to use - for a period but then something else happened with this and now all the matured loans to the value of €155.43 million the Deputy mentioned, from 1 July last, were converted to annuity. They are now on a process where they are beginning to pay interest on capital to pay down that loan, but there is no underlying client on the far side.