Professor Philip Lane:

-----or court repossession. We have not seen that so far. What are the exit strategies for these funds? It is not the case that the exit strategy is to repossess every house that is possible. I would point to them having restructured loans that generate some degree of income, which then can allow an exit through securitisation, for example, of restructured mortgages. We have reported that the number of repossessions, either voluntary or by court order, by these firms remains very low. It is not the case that repossession is the primary strategy.