Hon Dr DAVID CLARK: That broader investigation is ongoing. Thus far, the investigation has thrown up no reason to believe the CCCFA is the main driver in reduced lending. The Reserve Bank's December figures highlight seasonal variations as a prominent contributor. Furthermore, in December 2021, first-home buyer lending was still above lending for the same month in 2017, 2018, and 2019—and well above first-home buyer lending prior to that. It's important to note that the practical changes we're making are not the final word, and further amendments will be considered after the full investigation wraps up in April.