Dr. Mark Cassidy:

On the point about the Basel framework, it is true that the level of capital that banks need to hold against this type of lending is set by international standards. We fully support the new standards that are proposed. We think they need to come in as quickly as possible. The Irish banks, in respect of those standardised holdings, have the same regulations as those elsewhere. They are based on international experience with regard to the riskiness of this lending. The standards set are appropriate. What is required is a mix of financing appropriate to the proportionate risk of each of these developments.