John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

The point is that there is no directive of a 5% target from the SSM and the Central Bank here has no target of 5%. It was an average across Europe at one point. That is fine. Mr. Sibley has clarified the position.

In circumstances where a bank has warehoused part of a loan, can Mr. Sibley clarify what is defined as a non-performing loan and what he might expect the banks to sell? I am talking about the recent experience with Permanent TSB and others.