Mr. Brendan McDonagh:

In anticipation of this question, I asked my team to examine all of the big transactions entered into over the last 18 months. The outcome is quite interesting. Of all the major loan and asset sale portfolios that we put on the market in the last 18 months, 88.5% have been transacted with US buyers, 6.9% were transacted with domestic buyers, 3.5% were with German buyers and 1.2% were with UK buyers. The majority of the money coming into buy assets from NAMA is US based.