Mr. Brendan McDonagh:

I do not think there are any implications. It is just a different measure. At the end of NAMA's life, we will have paid €31.8 billion in cash. We will have interest costs incurred on that and we will have an amount left over after we have sold the assets. At the end of NAMA's life, all that will matter to the Exchequer is how much surplus NAMA is giving back after it has paid off all its expenses and all the debt it took on to acquire the loans from the institution. That contribution is a net contribution towards the wider Exchequer cost of the banking system-----