I'd point out here that this isn't a completely novel approach. If we look at the United Kingdom, there is a statutory memorandum of understanding between the Treasury and the Bank of England, and that includes a target level for the bank's loss-absorbing capital as well as principles for determining which monetary policy or financial stability operations should be undertaken on the bank's balance sheet and which should be indemnified by the Treasury. In the UK, that approach is seen as reinforcing the bank's independence and resilience and providing greater transparency to the finances, therefore reinforcing the stability of the financial system. I would ask the Minister why such an approach as set out in SOP 46 shouldn't occur in New Zealand.