Professor Patrick Honohan:

The banks must deliver the sustainable mortgage. The definition is elaborated upon in our guidance. The three elements for the targets in March, including rearrangement, personal insolvency arrangement or legal letter, are modes rather than a description of what is sustainable. In a nutshell, a sustainable mortgage is affordable in the short and long term, with sufficient clarity at the end. The Deputy has raised a very interesting point. It would benefit borrowers if there were more available support from operations similar to the Money Advice and Budgeting Service. A big funding push on that front would help. We are very positive about that.