Mr. John O'Beirne:

As we set out at the beginning, we are supportive of the rules overall. They have helped to put a brake on property price inflation. We certainly seek at all times to ensure that we comply with them. In many cases they overlap with the bank's own credit and lending policies. The rules set out that one can only borrow up to three and a half times one's income and 80% of the value of a loan, with a slightly higher allowance for first-time buyers because such borrowers tend to be younger and may have more earning potential over the rest of their careers. As we come through this year with no changes to the macroprudential rules, we hope to be in a position to maintain the ability to provide that allowance to individuals, where required, throughout the year.