Another important reference document is our publication of the results of the PCAR, which set out the projected loan losses under a base and stress scenario modelled by BlackRock: this is also available on the website.
The detailed data now available helps us to identify more clearly where the problems lie and where targeted policy responses are required:   The significant increase in arrears over time is clear – the number of primary dwelling mortgage loans in arrears of more than 90 days past due, increased from 3.3% in September 2009 to 7.2% in June 2011.