As I'm sure you know, the government issued its first formal consultation paper on open banking in January. We put in a submission, along with other stakeholders, in February. I'll get into that in a second.
Since the deadline in February, we've been in conversations. I would say it's very early days on open banking. The way we approached our comments was really to think through the risks that we think are posed. Those were aligned with what the government identified in its consultation paper: concerns around consumer protection, privacy, financial crime and financial stability. We focused primarily on the first three, and we talked about potential risk mitigation strategies, both from a regulator perspective and from a more industry-led solutions perspective.
That's how we have framed our thinking on open banking. It's really early days, and we're continuing to have discussions with the government when it asks us to provide some views. However, yes, it's early days and there's still a lot to come.