Mr. Ed Sibley:

Some weeks ago we discussed a potential non-bank entrant and engagement with one potential bank that might start offering mortgages in future. The numbers are relatively small. We also discussed the necessary requirements for a European bank seeking to write mortgage business in Ireland and how it could get authorised by the Central Bank. It could do so through its existing operations in other parts of the European Union and simply offer mortgages in Ireland tomorrow without any authorisation from the Central Bank.