Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

On that, because we might need to take a break for a few moments, in that communication Mr. Boucher might clarify whether, as part of the recapitalisation of the bank, a percentage was to deal with what might be called residual debt difficulties that would require a write-down. I would have assumed that the bank has calculated a level of write-down that it has to have.

On the more specific issue of mortgage-to-rent, does that involve a write-down because at some stage or other somebody has to buy the property and who has the legacy residual debt of that write-down? If an approved housing body comes in and buys a property for €150,000 and the previous purchase price of it was €250,000, where lies that €100,000?