Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I'll move on, if you don't mind, Mr. Daly. Can I raise the issue of interest roll-up? Because a figure of €9 billion is quoted in the core documents volume 1, question 7, which you ... which was returned. That's quite a staggering figure - €9 billion of interest roll-ups. Can you explain to us in practice how that occurred? Does it mean that many loans were not being repaid at all by debtors to the banks prior to NAMA coming on the scene? And how could such a huge amount of interest be rolled up on those loans, or are many of those loans with no repayments being made still being regarded as performing loans in accordance with the loan agreement?