Ms Catherine Moroney:

I will go back to the Senator's first question. I think he was talking about the approval rate, which we have just discussed. One thing I will add to that, if I may, is that the credit demand survey to which Mr. O'Regan referred has a comment in it, as I recall, to the effect that the portion of credit from the pillar banks was down from 88% to 75%. This would indicate that there are more players in there, and that might be changing the dynamics and the statistics. That second comment is an extrapolation on my part, but that mix is changing slightly. Going back to the pie chart shown at the beginning showing the other players coming in, the other thing the credit demand survey told us is that in that six months to March 2017 the demand was still there but it was at 20%, whereas it had been at 26%. That is what that demand is telling us, and when that is combined with everything else - I am now addressing the demand, as opposed to the access question - it appears certain things have impacted it.

I wish to add to the Brexit question the comment to which Senator Reilly referred earlier. The percentage surveyed that had experienced an increase in their turnover was 42%. This indicated that increase in turnover was flowing into their cashflow, so their use of working capital was not as acute. They were coming back into a healthy position in their cashflow. The question of a market dynamic should be added to that conversation.

The Senator's next question concerned overdraft rates. Our overdraft rate for businesses is 7.85%.