Dr. Michael Somers:

I presume it would be total exposure.

It was an enormous sum of money. The board was not really focusing on loans. In years gone by the main focus of the board would have been on making loans, to whom it was lending and why, and in to what sectors etc. but that all seemed to fall by the wayside and the board was otherwise engaged. Some of them told me they were becoming experts in Basel II and so on which may be very laudable but it does not get one very far in terms of pushing money into the economy.

That has all changed now. There are very few sizeable loans.