Mr. Angel Mas:

We did not cover all institutions, only those institutions that wanted to cover themselves. These were probably more prudent than average because it meant an additional cost to them, which made them less competitive in the market. My first response to the Deputy's question would be that universality of cover is very important. It produces a cost as it mutualises the risk but it also does not penalise the most prudent. Our books, as we mentioned before, perform significantly better than the average but if we did not provide a value in the worst meltdown scenario that can be imagined, then there would not be any value for insurance. I believe good books really suffer in bad times.