Mr. Steve Aiken:

It is difficult because there are lots of banks that are members of our organisation. Therefore, I listen to the views of many groups on both sides of the argument. People are willing to try innovative approaches in the context of collateral and the provision of funding. However, we are in a different scenario and need to take ourselves back, not to 2007 but to the 1990s in order to see how we viewed matters then. We probably need a new model and to understand how this can be capitalised. Our members - I refer to everyone from senior banking officials to those involved in small start-up companies - are considering how these things can work. We have a banking and regulation committee which is specifically examining this matter in order to discover what can be done. It is also looking at the practices which obtain across Europe and elsewhere in order to try to further its work.