Professor Philip Lane:

That mostly reflects variation across the lenders. We know that some lenders have systems issues and so on. In the grand scheme of things we do not find that acceptable but it is the short-term reality.

As I say, with the exception of one lender, the balance of that initial 13,000 cases will be concluded by the end of March. I am aware that every day counts here. It would be great if everyone could move more quickly but we are keeping a very close eye on this. It is essential that these payments are made as quickly as possible. Many lenders have nearly completed the programme. In other cases, we know where they are going with the matter.