Mr. Michael Torpey:

I think, Deputy, the question of 100% mortgages is something that was grounded in the circumstances of the time. I have no doubt ... in fact I'm entirely satisfied that 100% mortgages were available on a let's call it case-by-case basis from a number of institutions prior to the more public availability of a product labelled in those terms. I think, again I would be ... I'm entirely satisfied that we were in an extremely competitive market situation at the time and indeed First Active, being the subsidiary within Ulster Bank which was the first within Ulster Bank to introduce the 100% mortgages, was in fact losing market share materially in the context of the competition in the marketplace. They were the conditions that gave rise to the introduction of a product with limited availability and fairly tight controls. Having said all of that, you know, as the way the market has evolved over time, events that subsequently happened, I think with the benefit of hindsight, it would've better if that product had not been introduced.