Mr. Gabriel Makhlouf:

I thank the Deputy. As he mentioned, Mr. Sibley has led our work on payment breaks, mortgage arrears and distressed debt generally. I will ask him to comment on the Deputy's points, including credit ratings. I expect banks and lenders to treat their customers sympathetically, in line with the consumer protection code, the Central Bank's very clear expectation and the commitments the banks have made publicly. If there are cases where these things are not happening we want to know about them. I do not think there is a naïveté. The expectations are clear. The community as a whole expects that from lenders. I will ask Mr. Sibley-----