Mr. Jim O'Keeffe:

This is an item that has been raised with us and I will explain the steps we have taken in regard to it. I want to make one of points regarding the portfolio.

Clearly from our perspective, in dealing with the issue the Deputy has just raised, I am also conscious that we have given every opportunity to our customers. As Dr. Hunt mentioned, we still have a significant team operating here. Even within the timeframe since we started looking at this portfolio, €500 million has not been included because we have been able to work through that amount with our customers. We have constantly reached out to, and engaged with, customers here.

Notwithstanding that, we recognise that there may be customers who are not reaching out and engaging with us who are putting their businesses at risk. We know that the overdraft is a particular challenge in terms of cashflow. We have engaged with customers and written to them to state clearly that cashflow will not disappear. A customer who is at a particular level of their overdraft will have an opportunity to draw that down before the loan transfers. That amount will then transfer as part of the loan and they can use that cashflow in a credit current account thereafter.