Mr. John Corrigan:

It depends on what time period the Vice Chairman is talking about. If I may give him an example, it would mean we should be able to reduce the cash balances during the course of this year to approximately €10 billion at the end of 2014. However, as we move into 2015, if the Vice Chairman were to ask about 12 months visibility in terms of funding, say, in April 2015, that €10 billion would increase to €16 billion because there is a big bond issue maturing in April 2016. In terms of our liability management, we would seek to reduce that bond issue in order that we could, as a result of that, keep the cash balances fairly low. In summary, in the near term we would be looking to reduce them to 12 months requirements. We will review the need to hold 12 months at the end of this year. It may be possible to taper that further, perhaps by reducing it to nine months.