Mr. Richie Boucher:

We are currently at €98 billion. Further deleveraging will primarily come from running down books we have outside Ireland. The most significant of these is the UK mortgage book. Approximately €18 billion of those mortgages are within the UK subsidiary and a further €12 billion are outside of it. These are naturally running down. We are also running down certain corporate and business banking portfolios outside Ireland. Our deleveraging is all based on an ex-Ireland strategy. It is easier for us to pursue such a strategy because the markets are more liquid, customers have different refinancing options and we have proved that we are able to sell loans in those markets. Based on the analysis of redemptions and repayments in the two years to date, we believe the target is realistic.