Mr. John Stanley Purcell:

Well we, like a lot of other institutions, were faced with a credit crunch. It was difficult for others also to raise money on the money markets. I mean, the credit crunch had started in 2007, and was getting worse. There was very little lending. In 2008, we were trying to reduce our loan book and we have ... we had reduced our loan book by a lot. We were still raising retail funding and the market was in a stage where people were optimistic maybe it would improve next year.