So I mean, I’m just trying to get a sense as to, culturally, do you think that is a good read for your customers? Or do you think even without rates changing that may have to start moving up given the current environment? I guess that’s the first question. And then the second question was, I’m going to tackle the Farage question, because people generally avoided it. If I look in the press, people talking about sort of 10,000 subject access requests. And Twitter’s going bonkers with people closing accounts and stuff like that. I mean, is it possible that we could see some sort of a charge in the second half in terms of the cost of managing all that? Because I do remember things like PPI, even if you don’t ever have to pay anything else, just the sheer administrative burden of dealing with some of this stuff can be quite onerous.
So any thought and it’s early days, but any thoughts you might have around that will be will be very helpful. Thanks.
Katie Murray: Yes, no, sure. Thanks. I’ll do that. So what I would say is, you shouldn’t always believe everything you read in the paper. With some counsel to you that we have had an increased number of [indiscernible], they’re still in the hundreds in terms of that piece. Clearly, that will bring — giving us a higher number than we normally have, we’ll have to put a little bit more money away to kind of manage them, I’m not worried about that we’ve kind of calculated that number at this stage, it’s not something that’s a concern within there. So on that piece at the moment, given that they’re in the kind of several hundreds, where it’s in the manageable kind of space, I’m sure we’ll see some more continue to come through. If I look then at your thoughts on the deposits, and pieces, I would actually probably push you a little bit and say that the majority of our balances aren’t in that 20, less than 25,000.
It’s important, and there are significant balances. But as I kind of look up, I would see more of them across my instant saver and flexible kind of saver products being in that 25,000 to 100,000, and still significant balances in the 250,000 plus, so they’re kind of 210, all the way up to kind of 310 in terms of those amounts. I think that there are different rates that are available. I think you need to consider that portion of these balances are hedged. So the upside in terms of that change in the between what we’re paying, and what we’re receiving, it comes through over time. So the margins are a little bit low, you can’t just take b3 minus that because of the hedging that we’ve done over time on that. There are a wide range of deposits available, that people can go to look.
And I think what we’re all doing more on and what certainly the regulator is encouraging us to do is to make sure our customers really know the different variety of rates that are available to them.
Ed Firth: Great. I mean, just going back on that a little bit, I sort of get the logic of that. So I mean, it seems to me quite plausible, that as the hedge matures, effectively, the savers will get the benefit of that. Because if one of the reasons you’re paying 1.4 is because I can see the asset side of it is hedged, that is completely plausible. Is that a sort of — I know they are not directly related, but is that a way we should think about it going?
