Mr. Donal Rooney:

I am not sure I admitted that in the way the Deputy has portrayed it. The reason we put forward the information from the 2012 and 2013 accounts was to show that there was on record and within NAMA's audited accounts a fair value calculation using a 10% discount rate either across the board or as part of the calculation. When it came to the December 2013 board paper, it was not the first reference to a 10% discount. That is the point we are making.