Mr. Aidan Carrigan:

It is a fund available to deal with resolution cases. Having been involved in the discussions at a European level, I see it as a significant step forward, given that it is a mutual fund. The banks in Germany will pay into a fund and if a bank fails in Portugal, the Portuguese banking system will benefit from the resolution funds made up by the rest of Europe. That is why we refer to it as a mutual fund. The mutual element will be built up over a number of years. It is a change of direction.