Mr. John Corrigan:

That was the basis on which NAMA was set up. The thinking at the time, as I recall it, was that locating it within the wider NTMA facilitated the rapid establishment of NAMA from a standing start. The connections between NAMA and the NTMA are limited to several shared services. The arrangement that we provide staffing to NAMA is prescribed in the NAMA legislation. The other area in which we would work closely with NAMA would be to ensure that in the management of the NAMA balance sheet, the risks involved are integrated with other market-type risks which are being taken on in the NTMA. This ensures from the State’s point of view that there is a holistic view taken of counterparty risk, for example.