Mr. Jeremy Masding:

We were trying to get the balance right back in 2013. We were acutely aware of the 100% ownership - now 75% - of the bank by the taxpayer, and acutely conscious that we were dealing with the capital of Irish taxpayers. We had to reinforce to those customers, and I am sure Pepper will as well, that those amounts are due and payable. However, we also had to have sympathy with affordability. The Irish taxpayers are, in many ways, funding those warehouses because the bank does not receive any interest on them. That was the balance we were trying to achieve, between something that felt like the correct customer outcome and at the same time, our duty to all Irish taxpayers in terms of the capital due.