Mr. Brendan McDonagh:

No. No. That's not ... that wasn't part of the information. It is in the booklet here. There is a copy of the questionnaire I sent to the banks. I asked the banks a number of questions about the type of books that they had, how much loans were performing, what was their loan-to-value ratios, what was the geographic breakdown? It was a high level information, initial fact-finding exchange that the banks were told to co-operate with me, as the interim managing director of NAMA at that stage, to get high-level information from the banks. They weren't obliged to give any specific information ... they were ... it was up to them to provide information to me and co-operate with me. That was the direction from the Minister and the regulator to them. And subsequently, when we actually got the real information after the NAMA Act was passed, the only reasonable conclusion that myself and my colleagues could draw was that the loan-to-value ratios were not what was represented to us.