Mr. Larry Broderick:

We stopped a number of them. In fairness, the two major banks are talking to us about examining a different model. There is recognition that there needs to be a presence in localities. We have been involved in a lot of change. We know the branch model may well be different, with a different presence. It may be a different facility. There are some banks, however, that are very insistent that there is only one solution. Regrettably, on many of our campaigns we have not been successful. The banks just went ahead with what they had proposed, leaving us all to deal with the consequences. This is why, in our paper, we suggest a moratorium of perhaps six months and an independent overviewer. It would stop all of us having to chase our tails for three months.

In fairness, there could be valid reasons for proceeding in a certain way. If the industry could commit to making sure there is at least one financial institution - I do not mean a post office or credit union, although there is a role for these - it would be beneficial. I refer to an institution that could lend to local businesses and engage in the local community. These are challenges. They will not be solved through legislation but it would be useful if we could impress upon the institutions the need to meet customer need, commit to the economy and acknowledge corporate social responsibility. In the two bigger banks, I have noted a far greater understanding of the need to progress in this regard. That probably is based on the fact that there is State involvement. One or two other banks are not in that place so we need to bring to the highest level what we can do to address that.