Mr. Nick Ashmore:

They get a credit margin. On the liquidity provider product they get a credit margin. When it comes to risk sharing it is a slightly different proposition because we are starting to account for some of the credit risks so we ask them to reduce their credit margin accordingly. With the risk-sharing products a small element of it is us recovering our costs and then with the agri product there is a specific set of funding for providing a subsidy to the interest rate which creates a further discount, so that is why we were able to get the price down to 2.95%.

We design it so that our products versus their other products are neutral. For them, there should not be a motivation either way. We are very careful to make sure that they are not benefiting from the state aid inherent in these products.