Mr. Michael Lauhoff:

I will try to remember all the questions too. On the coin and the days of service, as I said at the outset, Bank of Ireland has the largest bank branch network in the country. We have not left the towns that we were based in. To do that, we have had to look at how we provide that service. We focus on making sure that we can provide the day-to-day transaction requirements as efficiently as possible and free up the time of people who work in the branches to spend it talking to customers about more complex financial needs such as lending requirements and so on. That has been the focus of our strategy. That means we have changed how we provide some services in branches. At one point, we had a trial of having the full cash offering on certain days. That has been changed in those branches so that it is now an all-morning service. Customers said they would prefer to have it every day rather than on specific days but with limited hours. That is generally working well in those branches. We also have branches which provide full day-to-day transactional banking throughout the day.

I am not aware of specific issues with delays in lodgments to night safes being processed. If there are specific cases, I would be happy to look into it afterwards.

A number of points about interest rates have been covered already. Deposit rates are very low in the Irish market. When we look at our cost of funding to fund lending, all sorts of finance is brought into that. Deposits and credit balance sitting in people's current accounts is part of that source.

The point about fees being the European norm is also relevant. Arrangement fees and administration fees are more standard in Europe than in Ireland. Loan tenors are very different. In Ireland, a commercial mortgage debt could have a term of seven to 15 years, while the average in Europe is far shorter. When fees are paid at renegotiation, that adds to the overall cost but when one looks at the banner headline interest rate, it is quite a bit lower. A key point for the Irish market is that the financial crisis in Ireland was far more severe than in most parts of Europe. That has impacted on the credit history on the books. From a regulatory and ECB perspective, the capital requirements relating to what we have to hold as a bank against our lending is substantially higher than it would be in most parts of Europe. That adds to the cost of providing credit and has an impact on those interest rates. In summary, on the interest rate side, we looked at Europe to see what the key differences are and what we can do, but it is born of a number of features of the Irish market that are different to Europe.

On the risk analysis of rates, aspects of this are commercially sensitive but for larger facilities, every case would be assessed on its own merits and the risk rating attached to it would determine what rate would be available to that borrower. It is done on a case-by-case basis. There are more set interest rates for smaller businesses which depend on the nature of the facility being requested, whether tangible security was provided against it or it was an insecure facility. All those features are taken into account when considering overall pricing of lending.

I have covered most of the questions; much of it was addressed in the original presentation.