Mr. David Duffy:

We had an Oireachtas discussion here where one of the Oireachtas Members brought up the point that there is a fear. That is why we introduced the IMHO, whereby the person can go, not to the bank, but indirectly to somebody else who would represent their interests. In answer to the Senator's question, I believe it has been very helpful to have that independent body which represents more of a consumer-friendly interest, and to then engage with us in trying to sort something out. That has been very successful.

The other issue that was raised was the tsunami of repossessions. That was misrepresented in the media today. For anybody to be in the position where we are in a court repossession discussion or in the court process would require them to not have engaged or repaid us anything in a number of years. In those cases, significant numbers will not end up in repossession territory at all because I think we have about 50% who re-engage.