Ms Jacqui McCrum:

I wish to clarify the matter because it is an important one. With regard to the code of conduct on mortgage arrears and the figures I gave, 1% were upheld, 21% were partly upheld and 78% were not upheld. As time has passed, we have seen very few of these cases being upheld because banks have complied with the code of conduct. We have not seen systemic non-compliance. Perhaps my explanation might give some comfort to the Senator. The banks are complying with what has been laid down in the code.