Mr. Paul Dobey:

I explained to Deputy O'Donnell that there was an opportunity. Sorry, firstly, there is always room for professional judgment and for scepticism and we were exercising professional judgement and scepticism at this time. Deputy O'Donnell has quite rightly identified and importantly identified that there is room for an IBNR to be taken, and that judgment can be applied in making that IBNR. I talked about adjustment factors, so that is when the historic loss rates might not be ... that the bank was using to determine its IBNR might no longer be appropriate. That was the conclusion we reached in 2008, and we had extensive discussion with AIB in relation to taking additional provisions. They were looking at it also to deal with that issue.