Mr. Myles O'Grady:

The data that have emerged over the nine months of this year show that overall, mortgage arrears are performing quite well. The increase in arrears in this year compared to last year is relatively small so that is a positive sign. I could point to the affordability of mortgages and it also points to the successful operations of the macroprudential rules from the Central Bank of Ireland which put constraints around loan to income and loan to value-----