Mr. Mark Bourke:

Perhaps I will take this question. The context of this is essentially that, over a period of three or four years, the bank is normalising. By that I mean normalising in terms of operations and the non-performing exposures about which we are talking today. The bank is normalising to the degree that it will be profitable and able to return all of the Government's investment. As part of that conversation and as part of the initial public offering, IPO - and this was in the prospectus - the board which determines the remuneration policy for the management and the entire staff wishes to progress towards some form of normalisation of remuneration. This is part of a long discussion. The first element of this is simply putting in place a policy which would allow the bank to potentially put in place a scheme. As we have been normalising, the European Banking Authority has set out, over a number of years, a set of remuneration policy guidelines to which all banks would adhere. What the bank has started to do is to assemble a first step towards a potential remuneration scheme for senior management which would be compliant with the guidelines. This is merely a first step in that. It is not a comment on taxes or the laws of the land. They remain in place. Any award under any proposed scheme would be quite a number of years down the road, as the Deputy will have seen from the financial report.