Professor Philip Lane:

Let me make an observation. We have been doing something in the past year or two because we are aware that the typical data feeds we receive do not capture some of the richness of what is happening in the market in real time.

What we have now is a programme of round tables. We recently had a very interesting one with the commercial real estate advisers. We have been building up intelligence about what is going on in terms of large portfolios, which is very helpful. We are intent on expanding the range of intelligence we get. The observations that the Senator has made are quite helpful and we can continue this discussion some other time.