Mr. Brendan McDonagh:

In terms of NAMA, we expect that we will have concluded our work some time in late 2017 or mid-2018. That is our latest view, and that is in terms of paying off the debt. There may be some residual work that will go on in terms of residential department and the strategic development zone, SDZ, but that is a much smaller operation.

It terms of the hotels to date, we acquired 136 hotels and we have 107 hotels remaining. Of those, 28 are in Dublin, 32 in Munster, 22 in Connacht and Ulster, 19 in the greater Dublin area, which I call the commuter belt, and six are in the rest of Leinster. They include hotels across all the categories - three, four and five star. Some are hostels.

Senator Coghlan mentioned that NAMA's mandate is very important. It is crucially important. I did make reference at the start to the fact that we are losing staff. That is a fact of life, but we are trying to deal with it as best we can.