Mr. Richie Boucher:

Well I think, as the Deputy will be aware, I was in corporate banking at the time but if I go back I think it should also be noted that a significant growth in the mortgage lending was done in the UK so when we came to the end of September 2008, the mortgage lending was roughly somewhere between €30 billion in Ireland, €30 billion in the UK. There'd been significant growth in The UK. The UK book turned out to be of better quality then the industry average but the mistake in the UK was that it had been grown through an inappropriate securitisation model.