Mr. Liam Kelleher:

On commercial property, again our focus was on contractors and subcontractors and, as Mr. Parlon has said, working on margins of 3%, if they're fortunate, in net profit at the end of the year. We were just not as conscious of the commercial lending that was going on. It was ... in a sense outside the normal day-to-day business of the federation - the scale of it, the concentration of it and, indeed, the fact that so much of it was taking place outside the country until after the event when the figures became available.