Let me assure you, the Central Bank will take all necessary action to hold regulated firms and individuals to account for failures in relation to tracker mortgages. The process we are overseeing is exhaustive but takes time.
Cash-outs also increased, but at a slowed pace. Net of duplicate refinancings, approximately half of the dollar value of outstanding regular mortgages has been refinanced during the past year and a half. Moreover, applications to refinance existing mortgages jumped to record levels last month.