[10]  It’s hard to say if this is the same average rate of prepayment we would see over a longer period, especially as interest rates were declining for much of the period shown, but it provides a helpful benchmark.
[11]  Note, however, that even though the cumulative difference between actual offset and redraw payments and the historical average declined to zero in 2019, the stock of these buffers was not exhausted – it had just returned to its historical average prior to the pandemic.