Mr. Jim Brown:

Certainly. In most markets unemployment is directly correlated to mortgage arrears. The higher the unemployment rate, the higher mortgage arrears tend to become. We have done some analysis in Northern Ireland, which has experienced similar distress to here, and what we have found is that until 2011, that correlation held to about 80%. Since then in Northern Ireland it has continued to be the case. As unemployment has moved up or down - it is generally up at the moment - then mortgage arrears have risen. What has happened here is that unemployment has come down from a peak of 15.1% to 13.7% while in the same period mortgage arrears throughout the market have increased.