Mr. Stephen Groarke:

I will make two points. We have been very explicit that we have asked specific questions of the SSM. To be frank, nobody in the system has asked as vociferously as we have for clarity on this question - albeit in private with the regulator. The committee should not take it that we have been taking it lying down that these have been classified as non-performing. The questions we have put were with a view to trying to get agreement to get them reclassified. We can only work on the basis of the treatment that is in place today in terms of the interpretation of the regulation.

On the point made earlier about the tracker issue, we were here before in regard to the 1,979 customers who had been identified by us as being impacted by the tracker issue. They are not part of this sale. They have been excluded from the Project Glas portfolio. There is no cross-over between the two issues.