Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Thank you very much, Chair. You're very welcome, Mr. Torpey and Mr. Gallagher. Mr. Gallagher, can I start with you and just tease out the impact of the bank guarantee on Ulster Bank and on your deposit base in the immediate aftermath of the guarantee? You made reference earlier on to the €4 billion. Can you just clarify is that the quantum of deposits which flowed out of the bank in the immediate aftermath of the guarantee?