Mr. Michael Torpey:

The limit we regarded as a rule, Deputy, and within the RBS Group there was a very strong culture of compliance with regulatory rules, so RBS Group, and Ulster Bank Group, as a subsidiary of RBS, would not have been tolerant of a breach of the limits. We did not breach the limits at any stage. When we were approaching the limit within a subsidiary within the Ulster Bank Group, specifically the subsidiaries UBIL, Ulster Bank Ireland Limited or First Active, we engaged in risk transfers with the full knowledge of the regulator so as to locate the risk where there was sufficient capital to accommodate that lending, and as such we observed, entirely, the rules in a full and open way with full and open transparency to the regulator. So I'm entirely satisfied with the compliance of Ulster Bank to that, and indeed to regulatory rules, generally. To your question in relation to others, we would have wondered, given the pace of growth in lending in some quarters, how it was others managed to comply with the rules, and, indeed, recent evidence as you pointed out suggests that some people who didn't necessarily comply with those rules, as we understood them.