Mr. Jeremy Masding:

Mr. O'Sullivan will have a smile on his face. I absolutely abhor capitalisation as a treatment because, at its most simple, it can mask a bank's true performance. It allows a bank to say that something is performing when really it is not. The rules that I put in place - I stress the "I" here - governing Mr O'Sullivan's ability to capitalise arrears are extraordinarily stringent. We generally only allow arrears to be capitalised if the underlying treatment has had 12 months of performance. If Mr. O'Sullivan can show me that a customer has had 12 months of performance, I will then capitalise the arrears. Capitalisation in itself, as a treatment, is extraordinarily dangerous for both the customer and the bank. Mr. O'Sullivan might like to comment on this.