Mr. Paul Stanley:

We have focused very much on narrowing the private dwelling house pool we are dealing with. To be clear, there is a difference in the definition of a non-performing loan and an account in arrears. As the Senator is well aware, we are required by the European Central Bank to bring down our levels of non-performing loans. Non-performing loans include accounts that have been through two forbearance arrangements but, in theory, may never have been in arrears. We are taking a more narrow view on private dwelling houses in terms of those we are putting into the pool. I am conscious of the sensitivities of this, but we are taking a wider view of buy-to-lets.