Mr. Richie Boucher:

The key for us in how the market looks at the bank is whether the non-performing loans are reducing, whether our early arrears are reducing and the restructuring options that are in place. We gave very significant disclosure, which we have extracted from our annual report and put with the presentation. The most important thing the market looks at is the redefault ratio. Obviously we look at it and note it from a customer's perspective and from the Central Bank's perspective. We have said that 86% who are in a restructure have not met the full terms. That does not mean the other 14% have totally redefaulted. They could have missed half a payment or one payment. For us, the key criteria is that restructures stick. Otherwise, we are wasting our time, the customer's time and the market and investors would get nervous that we were putting place something whereby a problem might re-emerge in the future, which is the point the Senator made.