Ms Ethna Tinney:

Oh, absolutely. There is ... in the documentation it states that up to 1999 or '98 100% of our funding came from retail deposits -100%. Now, securitisation started in 1999 with the EBS and when I arrived a year later, it was in full flow, just like everything else that's, you know, thing. So, basically by, I think it's 2005, it's in Alan Merriman's statement, 75% of our funding was coming from what they like to call "wholesale funding" and only 25% from retail deposits. So, I mean, that is a colossal change, an absolute, you know, a colossal change and the problem about it was was that this absolutely fuelled what happened with the housing boom and the prices of houses because there was unlimited funds available to the banks to lend out you know. You package your mortgages, you sell that as an asset, you know, you get money in, you make more mortgages, you package them and so on.