Mr. Martin Stapleton:

Yes. As we said in the presentation, we have give or take 150 active cases now, so the funds' absolute desire to recover the money in the fastest possible timeframe gets more and more frustrating for us as we deal with them.

We had a tradition in the past that when borrowers got into trouble - I am speaking specifically about farm owners - there was some sort of asset sale, generally non-core assets, and then a write-down to a level that would allow the bank to put in place a long-term sustainable debt. The write-down and the sustainable debt working together share the pain between the borrower and the lender. Eventually that borrower, through hard work and dedication in paying back the money, was given the opportunity to get his or her business back to viability and operating again, thus allowing the family to maintain ownership and continue to work the farm. That has changed completely. Once the loans are sold, that option is no longer on the table. It also impacts on the incentive for the banks to do the deal because they now have the option of selling on the loan as a way of getting the NPL off their books.