Dr. Robert Kelly:

They are non-deposit holding and essentially that is whatever the investor wants in return for the risk it is bearing.

On the capacity of the banking sector, and I do not want to narrow it too much on the construction sector, last year the Central Bank put out a piece on housing. We found that the other component that is an issue is what we call equity financing, that is, the component that is not leveraged for debt. The main banks within this State have facilities made available where they wish to lend but they cannot necessarily lend all their earmarking available to it. They have set up various approaches that involve trying to match with investors that will do the equity component. There are lots of things here. It is not necessarily that the banking system cannot do this. It is complex.