Mr. Ed Sibley:

I referred to this earlier. It is absolutely our desire to have a functioning financial services system that serves the needs of the economy. That includes a functioning secured lending market. Part of that is to continue to address some of the dysfunction that we see. We might get into that if the members so desire.

In terms of what the banks themselves are calculating under the rules of the capital requirements directive and capital requirements regulations, from an internal audit perspective, the number the Deputy quoted is still based on their entire book. It would reflect elements of the new lending but still, because new lending has been relatively muted relative to the whole books that banks have here, it will also reflect the risk profile of the entire book. I have not got the precise graph in front of me and may have picked the Deputy up wrong. Certainly, the risk weights that banks are being required to hold reflect the risk profile of the entire book, both new and back.