Mr. Stephen Rance:

As brokers we advise all sorts of organisations - banks, governments - on how to manage all sorts of risks, including mortgage risk. In addressing that point in particular, we recommend that one spreads one's counter-party risk as much as possible. One therefore looks to work with a range of organisations and one seeks to ensure that those are diversified organisations both geographically and through lines of risk. That is the best way to manage risk.