Mr. Brendan McDonagh:

There is no reserve accounting. We did disclose that we had unrealised profit at the end of 2014 of €1.6 billion. Impairment, as the Deputy knows, only lets one record the assets that are below one's carrying value. We do not record the €1.6 billion where it is above the carrying value. If one nets the two of them off against each other, one is back to a net figure of €1.9 at the end of 2014. What I am saying to the Deputy today is that if we rolled our portfolio out, took account of the unrealised profit and the impairment and looked at all our cash flows, we would predict that we would have €1.75 billion left over after repaying our senior debt and sub-debt.