ANDREW BAYLY: So passed a code of responsible lending that went from, basically, 60 pages to 105 pages, and imposed all these regulations administered by Commerce Commission and MBIE. Now we've got what is called the conduct of financial institutions, and guess what it's about! It's about imposing another code on responsible lending. And who's this going to be administered by? Well, actually, the primary organisation is going to be the Financial Markets Authority (FMA). So if you are one of those banks or non-deposit takers, you're subject to the Reserve Bank, the Commerce Commission, MBIE, and then if you're going under another code, you're now going to have the FMA.