Mr. Mike Aynsley:

Broadly speaking, the promissory note sits on the balance sheet and is lodged with the Central Bank along with several other assets that we also can put into the ECB to generate funding to support the organisation. As we wind down the balance sheet of the bank, all of the funds we collect are used to pay down the ELA facility, without exception. What would be left out is a balance of borrowings which are secured by the promissory note. Success for us is the removal from the balance sheet of all the commercial and residential loans from Anglo Irish Bank and INBS, to the point where we are left with just a government instrument - in whatever form that ends up being restructured to - on the balance sheet.