Mr. Brendan O'Connor:

We have a portfolio of SME loans which are largely property related. At the end of 2014 we had made offers in the form of written heads of terms to the vast majority of these customers, some 80% to 85%, proposing a solution or a restructuring solution to them. We also managed some customers who were distressed but not necessarily dealing with impaired loans. We made the offers at the end of 2014 and the results of these offers and the drawdown of the restructured loans manifested in the bank's books in €4.7 billion being written down. We continue to work our way through the process and will restructure loans during the course of 2015. A very significant effort------