Mr. Eamonn Crowley:

That is correct, but one also has to take into account the fact that we have capital applied to the management of NPLs. We have in the region of €2 billion in capital, a significant element of which has to be devoted to an NPL book that produces quite a small return. By selling the portfolio, that is also released with reference to the capital we have tied up in the portfolio. The Deputy has observed that if it is sold above the net book value, it will be a profit and that if it is sold below it, it will be recorded as a loss, but the capital will also be released at the same time.