Mr. Brian Hayes:

It is not seen as a blacklisting. It is a history. It is one of the biggest reforms that was introduced post-crash, demanded by the IMF, correctly, so there is a continuous piece of information that the person can change or, indeed, the lending agency or regulated firm can change. It is not regarded as a blacklist, rather a history of someone's ability to repay. Regulated firms look at that in the round as to the assessment of someone's ability to take on new credit.