Mr. Richie Boucher:

It might have been earlier, Deputy. I'm not sure the quantum had actually been changed because it was voluntary. Different processes, you know ... ultimately you ... because ours was always voluntary, the investor had to take a view that bonds were turning over. We found it easier once the guarantee had been removed because the bonds were trading much more quickly and you are moving it from natural holders to hedge funds and that who were taking a bet. If I could just confirm ... to help to your question ... the tier 1, we had €3 billion nominal converted into a gain of €2.2 billion equity ... and lower tier 2, €4 billion, which is €2.8 billion and the verification of that excludes €750 million of our redemptions.