Mr. Nick Ashmore:

It was certainly discussed when we set up the SBCI. We decided not to go down that route because it would have taken a long time and caused a significant delay. The main reason for going for a banking licence would be to attract customer deposits. That brings with it a whole raft of regulation, cost and so forth. We are not constrained at the moment with regard to the availability of low-cost liquidity, so the main commercial, economic rationale for going for a banking licence is not there right now but it may well be in the future.