Mr. Brendan McDonagh:

In terms of the loans that came into NAMA, that was designed by the legislation, as the Deputy knows. The loans, landed rapid loans, those associate loans that came into NAMA, we took the pool based on what the legislation was and what the European Commission decided and approved. In relation to the Michael O'Flynn loan sale, NAMA accepted the best offer that it got. It was not the highest offer, but the highest offer that was made was conditional and did not have funding. The best offer was an all-cash offer. That was the best decision that NAMA could make at that point.