Sean Barrett (Independent) | Oireachtas source

Thank you. Now, in your statement you also say that you made comments and observation about possible asset write-downs and scenarios:

[T]hese were for indicative purposes only. And we did not seek to "mark to market" property assets in the present economic environment (where the market for property assets is largely illiquid); in that context it is difficult to forecast the outturn of any immediate short term assets, sales or asset developments.

Did that detract from the exercise? You knew that they were heavily concentrated, as you reported, in a small number of borrowers and you knew they were heavily concentrated in property, so were we leaving out too much by not investigating what, what was going to happen in property and in, in preparing the scenarios?