Mr. Brendan Burgess:

Vulture funds bought portfolios of loans. If one goes back, one can see, that Permanent TSB sold €6 billion worth of loans to Pepper, CarVal or whoever. The nominal value was €6 billion but the amount paid was €4 billion. One can see the overall figures most of the time. When there is a large enough amount involved, they would have to report it to the Stock Exchange. It is not the case that they sell Brendan Burgess's loan or Peadar Tóibín's loan, and that if yours is a better quality loan than mine, they would give 90% for yours but only 30% for mine because the property is in negative equity. There is a whole batch of loans and some are better quality. There were loans sold by Bank of Scotland and Danske Bank. They sold the performing loans as one cohort and then they sold the really bad loans for 10% or 20%. Again, I am not 100% sure how relevant that is.