Mr. Bernard Byrne:

We are continuing to work through this. It will have progressed from the last disclosed numbers we have. While provision for principal dwelling houses is slightly lower and for others is slightly higher, one can assume that on average, it is about a 50% provision level. Gross loans provided a provision level of 50% on impaired loans. We would expect that to maintain itself as we continue down the gross side of this equation. Those provisions are required at this point in time and are necessary for us to implement solutions to right-size debt and get people back into a sustainable debt position. There is a significant amount of scrutiny that takes place in those. A key area of concern of the European Central Bank is the level of provision we hold in respect of those.

We understand it is a large number. Unfortunately, with a big balance sheet one ends up with every number being big. Our objective is to get that number down appreciably. It will be coming down because the gross number comes down and then the net number.