Mr. Donal Forde:

An experienced credit person would be somebody who had been looking .... I mean, the people who were to the fore in that respect in the division and at group level were people who had been active in reviewing property cases for 20 years. Okay? And what they would bring to that consideration is, as I've said, a first-order analysis of essentially the asset that was being purchased. If it was for residential development, you know, how many houses would be built, at what cost ... you know, what was the track record of the developer in delivering these, in what timeframe? And you work it back from first principles. If you're going to sell ten houses with a net profitability on each of whatever €50,000 and you've worked that back, you can just calculate the value of the land and you discount that in some measure for safety. So it's a first principles analysis, if you like, of what the value of the asset is relative to what it's going to produce.