Mr. Brendan McDonagh:

This was part of the agreement struck in the context of the EU state aid approval relating to NAMA. In other words, the original banks had to be compensated if they were going to be our primary servicers. The agreement was that the amount involved would be a maximum of ten basis points, 0.1%, or cost recovery, whichever is the lesser. If banks incur more than ten basis points, then they are obliged to absorb the cost. If they incur fewer than ten basis points, then they only charge us for cost recovery. I am happy to say that all three institutions are operating below the ten basis points.