Mr. Colm Kincaid:

We have extensive powers to intervene on a matter like this. We are not waiting, which is the point Ms McMunn was making in her earlier remarks. We have been heavily engaged with the institutions since their announcements on a range of the aspects of this transaction, including the transfer of mortgages and other aspects, which we can speak to more fully if the Deputy wishes. On this particular issue, neither are we waiting. We have already been engaged with the institutions to require them to get their plans and their processes in place. We have seen areas where we need those plans to be enhanced and improved, and that is a live discussion with them. People have seen one element of that in what we came out with in terms of the findings in regard to call waiting times. In terms of getting in at the sort of information the Deputy is talking about, such as exactly where customers are migrating from and to, while aggregate switching numbers are available, that is something that we really want to ramp up on and have been ramping up on with the individual institutions precisely to understand that migration behaviour and where those pinch points are coming. Consumers will make their own choices as well, of course, as to which institution they want to go to, so it is not simply that every institution will face a certain fraction, and some may face more than others.

There is no question of us waiting. This is a live engagement that we have with the institutions. However, it is also important to say that we need to see the process get up and running and get started, and to start to see and be agile in our reaction. That is why we have set up the teams and the resources Ms McMunn referred to on this. She may wish to supplement that.