Mr. Eugene Sheehy:

There were no loans transferred when I was there because the process hadn't started. Now, I was surprised at the level. I had been expecting, you know, from the ... some statements by the Minister, and when you take into account the first loss position in all these loans was what the customer input was and then there was the bank's LTV ... basically the bank's LTV, and then there was going to be another drop after that, and I honestly thought when I was leaving that the number was going to be 30%, that range. So I was surprised when I saw it. However, I don't know exactly what the process was. The market absolutely collapsed at that point. There was no market. And you could actually, technically, make the point: why had they any value at all? There was no market. You know, if you used IFRS 39 it must have been very difficult to arrive at a number. So I was surprised but the market was so bad, I suppose, nothing will surprise me.