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Financial Markets

My Lords, the noble Lord is asking me an impossible question when he asks for a definition of ““sub-prime””. As I understand it, it started off as an American term for a broad category of certain kinds of loan, and it has a different connotation in other countries. But we all understand that by ““sub-prime”” we mean ““additional risk involved””. I cannot give a definition much beyond that. If the noble Lord is dissatisfied with that—and I clearly see he is—I will certainly write to him and give the best definition we can. On the more tangible issue that he raised with me, the company asked for support until February 2008 while it considered all its options, and we have agreed to provide support to that date.