John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Okay. Can I ask, Mr. Torpey, how ... like, what is your own feeling? We've heard evidence from a number of witnesses that Ulster Bank were the instigators of marketing the 100% mortgage product for the first time, and perhaps it was available to certain categories of individuals in other institutions. But others from other institutions have come in here and firmly pointed the finger at Ulster Bank as being the instigators of this particular product. And yesterday, Mr. McCarthy gave evidence to the committee that 100% mortgages formed about 1% of their mortgage loan book, I think, in Ulster Bank, prior to the direct marketing of this product, and then it went up to about 4%, I think, was the figure that he used yesterday. Do you have any feelings about being characterised as the instigators of this product and, you know, what is your own, I suppose, opinion now, if you could elaborate on that a bit more, as to the effect that the 100% mortgage and the direct marketing of that as a product into the Irish market ultimately had on mortgage lending across the board in all the banks?