Professor Philip Lane:

We are absolutely committed to pushing this forward.

Much of it has been completed in some banks. In others, we think the deadline is for it to be up and running by the end of the year but not all cases will be finalised. If we see more cases, we will have to push them more.

Many banks offer mortgages here. It would be too narrow to restrict it to just the banks that were covered by the bailout. Other banks are involved in this process and it is important to have that broad focus.