Professor Patrick Honohan:

As I say, there are a number of banks here, some of them are more effective than others and some of them are much further on in processing. The Deputy mentioned the PTSB and he will see that a much bigger share of its proposed solutions are in re-arrangements and I think that it is ahead. Supposing we had said, "I think we will impose the same system on everybody, and since the oldest bank will have that then that will be the one that will apply".

I do not think anyone would be happy with that approach. I am glad to see that some banks have moved ahead of others because they give a signal to other banks of what needs to be done and how. At this stage, I am not unhappy with diversity but I expect the diversity will converge fairly quickly as we go through this process.

The second question concerns whether the banks have enough capital to get through this. A lot of capital was put in two and a half years ago. The banks certainly have loads of capital and have assigned loads of provisions to deal with the mortgage arrears situation. That is not a barrier to their moving much faster. Will they ever need more capital? Yes they will because capital requirements are increasing all the time. Next year we will complete the stress test. I am not saying there is no question of more capital being needed but, for the moment, it is not a barrier to them applying solutions. Was the third question related to the first?