Mr. Paul Stanley:

A number of Senators and Deputies asked about capital and risk weighted assets. The risk weighted assets levels required here in the domestic market, as has been pointed out, are certainly higher than the UK and, indeed, higher than most of the economies in Europe. It might be worthwhile looking at a report the Banking & Payments Federation Ireland, BPFI, issued last week. That, rather than me going through the details of it here, explains better how Ireland stands in that regard. The levels are quite in excess. In the UK, mortgages with risk weighted assets are sold in the mid-teens whereas here we are probably heading to near 40%, and that gives a flavour of the amount of capital in that. That acts on the levels of returns. Certainly, our shareholders can see the market here-----