Mr. Richie Boucher:

The €3.5 billion is new and increased lending to customers within a statistical margin of error, which, from our perspective, is 3%. I am confident that at least 97% of the €3.5 billion will be new or increased lending to existing or new customers.

The lending will depend on the utilisation of the customers. For example, if we approve term loans to customers likely to draw it down, an overdraft, an invoice discounting facility or a revolving credit line, it will depend on utilisation. Our experience heretofore is that overall utilisation of new lending approvals is approximately 50%. When it comes to overdrafts, the utilisation is lower. Overdrafts utilisation, in our experience in the year to day, is approximately 42% or 43%.

Our goal is to generate revenue, and restructures, etc., do not generate revenue.

The €3.5 billion figure is a target that Bank of Ireland has agreed and we welcome it because we have a target for growing our business. We are not in the business of shuffling numbers to make them look good. Ultimately, we are provided with capital and liquidity to grow our business. The target is €3.5 billion and from our perspective it is new and increased in so far as we can be statistically accurate.