Mr. Frank O'Connor:

I do not want to speculate on the amount as the bank tries to enter an IPO process. If one is talking about realising a price of that magnitude, in the context of a €200 billion debt portfolio, one is talking about more than 1%. As Mr. O'Kelly outlined, we do not assume the money so in terms of the numbers we talked about and our funding range that we told investors for the year, we tend to err on the side of caution because only six months ago or in summer 2016 people felt that bank share prices in terms of equity valuations were not as attractive. There has been some recovery in those prices so people might have felt an IPO was talked about then did not happen but is now back on the table again. We tend to err on the side of being cautious. In the numbers we present here we do not assume the amount in terms of cashflow. What investors want to know is if it does happen, what would happen the proceeds and the signal around that.