Mr. Ed Sibley:

As I understand it, the board will be organised in a similar way to the UK board but we have not been consulted on it and nor would I expect us to be consulted on the construct because it is separate and distinct from any regulatory action. It is one of the actions being taken by the banks in recognising they have an issue in trying to address standards overall. As we said earlier, I believe it is a welcome development and it is at least a recognition that the banks need to do something. It does not, however, change anything we are doing from a regulatory perspective and nor would I expect it to change anything from a legislative perspective.