Mr. John Moran:

That is correct. Recently, we issued a paper on the Credit Review Office. We conducted a review on these issues because it seems to work well in some scenarios and allows credit to work. In many cases the process of overturning the bank's decision involves the borrower assisting the Credit Review Office with regard to the strength of the business plan or the documentation supplied. It is not necessarily a problem with the bank process; it can often be a problem with the application. This does not concern me in the sense that what is important is that we find a solution for the business to get credit. If the Credit Review Office is able to help in this process the question becomes why more people do not use this resource. We have suggested that perhaps we can do something at the point at which an application is declined to increase awareness of the credit review process and perhaps remove the internal appeal so one can go directly to the Credit Review Office. We can imagine borrowers who might decide that as they have tried it once with the bank there is no point to an internal review. We could allow such people go directly to the Credit Review Office and ensure this option is highlighted well in any communication. Perhaps it is too far down the letter to be obvious.