Mr. Brendan McDonagh:

At the outset we made a strategic decision that we would manage the top 200 debtors in-house, which was €61 billion of the €74 billion we acquired, and that the other 600 debtors would be managed by the participating institutions because they were the smaller debtors. They would be managed by them, which was €13 billion per debt. It is mainly those loans managed by Capita and AIB which are now up for sale as part of Project Arrow. What we will be left with then is all NAMA managed debtors.