Mr. Shane O'Sullivan:

I agree we are in the midst of a very difficult problem and there is no doubt about that. I would caution around defining the 10,000 as being people who may potentially lose their home. Many of these people are in the AVS space and collaboratively we hope, based on some of the conversations we had earlier around our pilot work, that this may result in an outcome that both borrower and lender can accept. Equally, to start on the issue of a legal letter does not absolutely mean that this will result in repossession; in fact, the engagement with customers post the initial and early legal letters actually encourages engagement. We then move from the less meaningful conversations that we have been able to have, into a meaningful space. I add this information because it will give insight into the situation.

To date, our re-engagement with customers post the legal process is 35%. People can define "engagement" in different ways. In our view, engagement is not just a case of picking up the phone and talking; it is actually completing an SFS in our branch and having a sustainable outcome. Of those 35% we have been able to find solutions for 70% of those people, be it by means of split mortgages or part capital and interest. We have to be careful not to make a direct link between the 10,000 and-----