Ms Anne Marie McKiernan:

The purpose of the reserve ratio is to have a level of financial resilience in the credit union so that it can withstand losses. As I have said previously, we want to see that the level of resilience is there. It is the minimum level required on which they can build to both meet all of our current expectations and potentially take on greater risks with regard to their future business models. Most credit unions are adapting the conservative approach of seeing that it is not just our reserve ratio that they feel is right for them. They are applying a higher reserve ratio. That is appropriately conservative of them. As I mentioned, the sectoral average is 16%.