Ms Josephine Feehily:

It is of their losses forward in any given year. That was the first sort of intervention. Then the Comptroller and Auditor General rightly pointed out to us that we had not enough data about losses so we gathered a lot of data.

Members see the result of that in the report - the figure of €119 million. All of the banks are managed in our large cases division. We have ongoing, regular dialogue with all of them. We would be aware at case level of what their expectations are in respect of losses. We feed that into the tax forecasting discussion. We have calculated the impact of the liquidation of IBRC and Irish Nationwide on that losses figure, which will go down quite significantly.