Mr. Ed Sibley:

There are two aspects to the Senator's question. There is the finance stability angle but, importantly from our perspective in this area, what is happening for the borrowers.

Regardless of whether the firm is a bank or non-bank, we would expect it to have appropriate strategies in place for dealing with people in distress, the operational capability to deal with it and a range of solutions that are sufficiently tailored to the individuals. Obviously, we take information from this committee as well but when we are in these firms, we see that they are maintaining the arrangements that are in play as they are sold - the restructuring that is in place - and that they are trying to stabilise the situation with their distressed borrowers for those who are not in arrangements. We will continue to challenge them, as we do with the banks, to see whether they are doing enough in terms of providing long-term solutions and securing a long-term path for these loans. As part of the relatively recent legislation in terms of loan owners, we are going through an authorisation process for all of these that will look to some of the points raised but Ms Rowland can talk more about that.