Mr. Michael Layde:

We have sought to mirror the situation for people with commercial mortgages in distress. As the policy for commercial mortgage holders has evolved, including the suite of potential solutions set out in the Keane report, we have sought to duplicate this in the case of local authority mortgages. We have done so at each stage. Therefore, the mortgage resolution process first iterated by the Central Bank was applied to local authority mortgage holders and the current one is being applied. We are also applying the Keane report's set of solutions which includes the potential for people to switch to the mortgage-to-rent scheme, to surrender ownership but remain in their homes.