Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Okay. Can you just explain how the loan-to-deposit ratio reached a mouth-watering 275%? And, in the context of the fact that the funding mix ... if you look at the graph on Vol. 1, page 121, which looks at '06, '07, late '07, March '08, and the composition of the funding mix remains broadly stable, with long-term debt being, you know, 20-odd per cent; securitisation, 7%, 8%, 9%; deposits, 34%-32%; and then short-term funding. Was it just the explosion in credit, that while the composition of your funding remained broadly stable, your loan-to-deposit ratio was going through the roof-----