Mr. Ed Sibley:

A number of points are being made. Members have asked about the approach taken to the culture review. We undertook a piece of work on the culture within the institutions. Using that methodology which is supported by the world experts, we undertook a review of the culture and behaviour within the banks. Separately, we undertake a huge amount of work on the ongoing engagement between banks and their customers, be it on specific tracker mortgage issues or non-performing loans. What we see and require is that they engage with borrowers who engage with them. There is a big issue surrounding engagement which requires continued diligence and focus on the part of both the lender and the borrower.