Ms Anne Marie McKiernan:

There is available scope within the approved long-term lending limits in place. Credit unions have indicated to us that they would appreciate greater written guidance on the discretionary higher limits allowed with respect to long-term lending, both longer than five years and ten years. We will publish our guidance in that respect shortly. There has been intense engagement with the sector which is coming to us on mortgage lending and the potential for it and its desire to make proposals in this area.

We have given more thought to what the issues to address are so we intend to publish guidance in the form of a considerations note. The issues to be addressed are similar to what I mentioned in the opening statement. They are quite obvious issues relating to the regulatory requirements, the risk management requirements, the capability requirements and the financial impacts.