Mr. Frank Daly:

I am very confident about the probity and integrity of NAMA staff in general. I would not believe that there is any of this going on in NAMA by other members of staff. I shall go back to my statement on the potential damage or potential commercial exposure. All I can say to the Deputy is, at this stage of the investigation, we do not believe there has been commercial damage to NAMA and we do not believe that there is prejudicial damage to our debtors. I acknowledge that there is reputational damage and none of us wants to be here today explaining it away. As far as I can see at this stage, this is a one-off incident where somebody very deliberately set out to circumvent the controls in place at NAMA.