Mr. Myles O'Grady:

I am happy to offer the Deputy a perspective on Bank of Ireland's non-performing exposures. As the committee will know, it is part of the regulatory requirements to bring those customers who are non-performing back into a performing profile. That is really important. It is very important for the quality of the bank balance sheet. It allows us to lend to the economy as well. In relation to non-performing exposures for Bank of Ireland over the last number of years, in total in those transactions, we have done five transactions. For approximately 60% to 70% of those loans that have transferred across, the pricing remains under the control of Bank of Ireland. That is because it is a securitised transaction, rather than being a full sale. That means that those customers who have transferred are still able to avail of Bank of Ireland rates. The remaining figure, which is approximately one third, they were full loan sales. That gets us back to the discussion we had earlier regarding performing customers or customers who were previously in financial difficulty and are now back in good financial health. We very much welcome those customers coming back. Hence, the initiative that has been led by the Banking and Payments Federation Ireland, BPFI.