Thanks for the question. I appreciate the opportunity to answer.
The challenge here, as you can imagine, is that everyone's financial situation is unique and different. People have different credit products, deposit products, and it takes some time to figure out, particularly if someone has had an immediate loss of income or job, what the right product for them is. As I detailed in my remarks, I think that banks have mobilized quite quickly over the last three to four weeks, since this crisis began, to try to maximize the amount of flexibility that people have.
In essence, what people need is access to low-interest forms of credit. There's been a lot of talk about credit cards and those sorts of things, but there are also a lot of other products available, such as personal lines of credit and personal loans and those sorts of things, that can offer a lower interest rate, and those might make sense for the individual customer.
On the notion of flexibility, as again I highlighted in my remarks, I think the banks have worked tirelessly to explore different alternatives and creative solutions for people, building off some of the things they've learned just in the normal course. On things like mortgage deferrals or skipping a payment and those kinds of options, many banks offer those at all times. Banks recognize that people can be displaced from their jobs through a variety of reasons. People are given a variety of options to either skip a payment or defer mortgage payments or others, so flexibility is clearly the name of the game.
I think everyone is reacting to an incredibly dynamic situation. With the scale of the situation and the immediacy, banks are working very hard generally to try to offer and extend maximum flexibility to their customers, understanding the enormity of the challenge they face.