Mr. Conor O'Kelly:

We do. We provide corporate services. In terms of the Chairman's wider question on the macro picture, I remember that, when we were speaking to investors six or seven years ago, the total loans that NAMA took on were considered a contingent liability of the State at that stage.

Many people were reluctant to lend us money while that liability was still unresolved. Many thought that NAMA would not recover anything like the amount it recovered. The context and the environment change. I recall a time when that was a big hangover for Ireland with regard to its ability to borrow on the bond markets. That is no longer the case, and that is a welcome development.