Mr. Richie Boucher:

First of all, for the purposes of communication, for our accounts and as a public company, when there is a definition we can set out matters under a definition. We do not have a definition of a strategic default and therefore, I cannot provide figures. We do not do measures on that basis. What we try to demonstrate is the number of customers. For example, in the example we gave of our late arrears, we stated that 2,880 of such customers in the owner-occupier sector had not completed an SFS. Let us be careful to say that this 2,880 might mean that a customer has just moved into the late arrears sector, so it may not be the case that these are strategic defaults.

To return to our experience, which is all I can speak about, I must point out our arrears are 53% of the owner-occupier sector. The number of our total default customers, an amount of €3.9 billion, is vastly different from some of our competitors in terms of quantum and proportion. However, if we go to SFSs we assessed in the month of July, which broadly speaking appear to be consistent with the year to date, we can offer a restructure in 80% of cases. They may be customers who are not engaging with us for a variety of reasons, but I do not know the reasons. It is not possible for us to get into the heads of individual customers on a day-to-day, week-to-week basis. If they do not engage, we have a limited choice.