Mr. Michael Fingleton:

And as the market evolved beyond ... even at 2008, in March after the audit by KPMG, we were extremely solvent and had €1.5 billion of capital. I think after the audit of 2010, we still had €1.2 billion in capital and about nearly €4 billion in assets. What we were anticipating was all the possibilities and the contingencies that may or may not arise, as would be prudent for us to do. This was not to say that we had any, any at that time, worry about our liquidity or our solvency. What materialised afterwards - after 2010 and NAMA and all the rest of it and the crash - that took care of all that and then we were insolvent. Certainly at the time of the guarantee and a year later in March 2009, we were very liquid and very solvent and had capital of, let's say, 10.2% on our balance sheet.