Mr. Colm Kincaid:

The greatest progress on long-term mortgage arrears has been made by the non-bank firms we referred to. The Deputy will have seen an announcement by some of the firms, including Pepper, for example, before Christmas of their approach to it. We are scrutinising that approach. We are keen to ensure they are analysing the books and understanding the impacts the Deputy is talking about, which are absolutely there. We will be challenging them on how they are factoring in the experience they will now see of borrowers, having raised rates into their pricing strategy, their engagement strategy and the options they make available to their borrowers. I very much agree with the Deputy's concerns. We have a very live engagement with those firms. I know the information the Deputy is referring to. We have also seen cases of lenders in that group making decisions not to apply rates because of the repayment capacity of the borrower. We have seen them roll out new options. We have seen them engage and we have seen some of their pricing decisions being quite responsive to the payment capacity.