Mr. Matthew Elderfield:

Operational capacity has improved greatly but is not all the way there. There is a strong commitment to hit the targets but there is still much work to get through to put sustainable solutions in place. The pressure is on to do it in the next 18 months before our new, tougher provisioning rules come in. There are uncertainties on how the personal insolvency regime will interact with this but there is a commitment to get these arrangements in place. There are so many different areas we could talk about. We are under time pressure. Rather than forcing everybody into the personal insolvency framework we would like banks to work out solutions beforehand.