Mr. Michael Torpey:

I think, Deputy, the 100% mortgages is one of a number of elements of an extraordinarily competitive market that existed in the period to which you're referring. There was extensive marketing of incentives of one sort or another to encourage or support people in the purchase of houses and the financing of them through mortgage borrowing. I think the intensity of the competition across the piece did contribute to the overheating of the market through that period. To the specific question of the 100% mortgage, it was one element in that wide range of competitive factors that were put into play. I think the ... with the benefit of hindsight, it had a more pronounced effect in optical terms in terms of the perceptions that it will have created in the marketplace than it had in terms of an actual impact. As you rightly say, the proportion of Ulster Bank's portfolio that ended up in 100% mortgages built up over a number of years was still in low single digits. So it didn't, in terms of the quantity of financing it put into the market, move the dial in any dramatic fashion, but I would accept, Deputy, that it may have had a greater announcement effect as I have said, and, with that perspective, I would acknowledge that it was not a good move to make with the benefit of that hindsight.