Mr. John Palmer:

I will see if I can find the note. It basically said:

The Commission believes that any changes to the PSD2 liability framework should contribute to reducing fraud but without creating a new moral hazard, which a general refund right could create, or simply reallocating the financial consequences of fraud.

The Commission also stated separately in the impact assessment that it was one of the options it decided not to proceed with because of the cost and upheaval it would cause.