Mr. Stephen Bell:

I would be happy to try to develop that point. When banks are looking at the capital they have to put behind particular assets, they have to look at the historical performance of the business. It is a regulation and accounting requirement matter. It is not something we choose to do, it is a matter that is required of us as a prudential institution. Looking at the loss history and the loss performance of the portfolio in the Republic of Ireland, we end up with a significantly higher risk-weighted asset percentage applying to a mortgage in the Republic of Ireland than we do in Northern Ireland, England, Wales or Scotland. That is effectively something that will change over time as the historical loss performance washes through, but at this point in time, the models we are using and the calculations we are making require us to hold multiple times the capital more for the same risk in the Republic.