Dr. Donal Donovan:

We see what emerges when we look at the figures and the breakdown in lending to different sectors, including household lending, residential mortgages and commercial property. We can include the lending by foreign subsidiaries of the major Irish banks. As I said in my statement, this matters because if the banks go broke, the subsidiaries have made losses and those losses end up being added to the bank losses. We looked at this extensively in our book. I can point committee members to the page and they can see the table.