Mr. Cormac McCarthy:

It's a good question, Chairman. Just to explain the background to this: in 2006 we had come through a significant integration programme with Royal Bank of Scotland, and as had been the case when I took over as chief executive of Ulster Bank, our ambition was to take on AIB and Bank of Ireland, so being No. 1 in the island of Ireland was the stated ambition. What this programme tried to do was rally the flag and get, you know, the organisation united round a unified ambition to be the No. 1 bank. And what these numbers were purporting was to say that if you were the No. 1 financial institution in the country this is what the numbers would look like. So none of the shares that are up there, or indeed the numbers if looked at, the market leading position in the market at the time would've been different. So, we were not seeking in any way to be bigger than the existing leader in the marketplace. And so what these set out was what that ambition in five years, if we were to achieve the ambition of becoming No. 1, that's what it would look like. Governing all of this is risk. So as a table stake in our business, as I explained the structure at the outset of how things worked is none of this would have done without the appropriate reference and paying the appropriate attention to the risk parameters and the risk structures in the institution.