Mr. Michael Moriarty:

Let me explain. The impairment is different, it is where we assess whether the loans are collectable at the level that they are at written down in our books.

Twice a year we go through them in great detail and look at the big cases case by case, property by property. We just do the sums and ask whether we are going to get back enough to repay the loans at the amount that we are carrying them at. If we are not, we have to provide for that. That has that impairment in it. That is our impairment exercise and that feeds into the discount rate.