Mr. David Duffy:

I thank the Chairman and Deputy Peter Mathews who has made very valid observations, some of which we discussed. On the issue of NAMA conflicts, we take great care in that area, but the degree to which we can control it is limited. We cannot dictate where someone goes to work, but we have not come across a problem to date. It would be fair to say most people leaving banking want to take a break from it. However, we will keep that point in mind and make sure there is a minimum ethical standard, which is critical to the future functioning of the bank. We cannot tolerate any unethical behaviour or anything that might lead to the perception of such.

Regarding the Deputy's central theme on processing versus execution, we have built the capacity and have the technology and the provisions to do precisely that, namely, to restructure the absolute debt level in the organisation. The rest of the issues on the balance sheet and the observations, with the exception of those made regarding the IBRC, on which I cannot comment, are noted and will be taken into consideration. The same applies to the Deputy's point on the buy-to-let market.