Mr. Dargan Fitzgerald:

I'll do my best, Deputy. Since I didn't have an involvement with any of the financial reporting of the society in 2009, 2010, 2011 or subsequently, I must say I am not qualified to comment on those years specifically. And I must say, as a matter of fact, you will be aware that the vast majority of the loan losses were recognised in those later periods. I feel that the work that I did have connection with in 2007, and particularly 2008, probably gives me some insight and I think it's probably a matter of fact, although I could be corrected, that a large proportion of the ultimate loan losses arose from commercial property, including development property and buy-to-lets. My understanding of that is purely from brief review of the NAMA documentation that forms part of the core packs. So, I do feel that the facts of which I am aware show that commercial property and, as one would expect, buy-to-let property and of course development finance, which was the first to show evidence of stress and strain, as I mentioned, were probably the prime reasons for the losses.