Mr. Brian Cowen:

Well, I think it is referred to in some of the stability reports and it may well have been mentioned by Mr. Hurley specifically. I can't, actually, recall but I'm sure if it was an issue that was gaining recognition in terms of what was coming across their spectrum, I'm sure it was.

As you know, this had been an area where, again, very low impairment of loans up to then, they were all being paid back. Certainly the level of concentration wasn't known to us and the cross-collateralisation that was going on wasn't known to us and maybe the absence of a single credit register was ... which has now been put in place, is probably a means of making sure that that would become known more in real time than was the case. But certainly I agree that the commercial property loan situation was an issue that needed to be resolved sooner than it was even identified.