Ms Francesca McDonagh:

I will say a few words about our philosophy and approach to arrears management and helping customers who are in distress. I will then ask Mr. O'Beirne to talk about the details. We have an arrears history and track record that is four times better than the industry average. Our focus consistently has been on working with individual customers to find solutions, provided that they are willing to repay their mortgages, despite some challenges, and work through solutions on a tailored one to one basis. This has served the bank and customers well. It works for those who are willing and want to pay and find a solution that is sustainable.

Mr. John O'Beirne can talk about restructuring and the longer term as we go forward.