Mr. John A. Moran:

I agree that the performance measure is not well identified. In effect, we look at this in terms of the level of credit available to households and businesses. Mr. Hogan's department analyses the number of mortgages being restructured, the number of arrears and so on. There is a dashboard of information that we keep under review. The Department has a clear view of how that information is assessed by way of the mortgage arrears implementation steering group. In fact, this was one of the first areas of activity that we put through our new performance management technique. We have actual targets and a plan for developing this process. The question of which individual key performance indicators the banks must meet was decided in tandem with the regulators. There are financial institutions other than those in State ownership involved in that process. As part of the work of the departmental steering group, the Central Bank makes presentations on how the banks are doing in this regard.