 Trust is a foundation of what we do as a as a bank and as an industry and there's a very interesting issue around this today in Australia and New Zealand Which is when you talk to individuals and we do this remarket research and focus groups Etc and all the data shows us that when people talk about their own Personal relationship with their bank and their banker and their local branch and whatever that is High levels of trust high levels of satisfaction very happy In fact that satisfaction levels is in the 90s in terms of 90 percent people say that But then when you ask them about the industry satisfaction and trust is very low So it's quite perverse in many ways. And why why is that? Well, I think the couple of things feeding that one is that actually there is a shift in Western liberal democracies Around a lack of trust in large institutions, whether those institutions are governmental or whether they're private sector And so banks get be dragged up in that that lack of trust in large organizations Secondly, we have not done a very good job as an industry in explaining our role in society and what we do We've got to remind people why banks exist. We're kind of the grease in the system We're in the business of transforming one person savings into another person's investment And we really enable people to achieve Incredible things owning a home starting a business growing a business getting that business to export all sorts of things But we don't talk enough about that We've tended to talk and dry economic terms about profits and return on equity and those things and so we've kind of lost touch With our with our community and that's what we're reengaging it and I and I know and talking to the other banks in the industry We're all incredibly focused on on doing the right thing and getting this fixed the reasons that banks go off the rails Or fail are pretty traditional ones. The first is around concentration of risk Where we put too much of our capital into one area and then of course, you know surprises and changes happen And we're unable to react quickly enough that historically has been the single biggest reason whether that's in commercial property agricultural products country risk, etc concentration is the single biggest destroyer of banks the second one I think is to do with culture is to do with the kind of animal spirits of any Organization take over and this desire to grow and to take on risk in the sense of feeling good and comfortable in what you're doing Sometimes can go too far and that particularly Has impact when the regulation is a little out of step with that And so that's why having a really strong regulatory framework that we haven't here in Australia and New Zealand is very very important Part of the ecosystem to make sure that the system works well and everybody's interest What are the really interesting things about Australia and New Zealand our kind of our home markets? If you will is that actually our economies have done really very well for quite a considerable period of time now You might say what's wrong with that? Well, there's a there's an issue in there and that is a lot of people the average age in Financial institution today is probably around 30. It's not terribly old So a lot of our people have actually never lived through a downturn. So they've read about it They've studied it. They've watched it on TV. They've seen it in other markets But they've actually never actually lived through that and see a the damage it can cause And also don't we have an experience of what to do if that happens? So you could say there's not a lot of fear in in our people and that's my job and Leadership is to make sure that people really think through what they're doing that in some sense They are fearful that we do assume the worst when we take on risk because without that fear We know that organizations take on far too much risk Executive accountability is a very important part of the culture and our responsibility to the community overall When things go wrong the community our customers quite rightly expect us to put them right That's them out. That's the first thing we got to do put them right Make sure the customer is put back in the position. They would have been it otherwise The second thing we have to do is make sure it doesn't happen again And we've got to fix our processes and the third thing to ensure Is really around accountability because part of making sure it doesn't happen again is sending very strong signals to our executives and our People that mistakes are tolerated if they're done in good faith and they're truly a mistake But negligence or bad decision-making isn't and so holding people accountable is important The issue becomes one of if you will seniority I have no issue being held accountable for the mistakes that happen in in our organization and neither do my senior team We've got to be careful as if we drive that accountability too far down into the organization and people held Accountable for making a mistake what we know is that culturally what people do is they can act to avoid Transparency so if they make a mistake they can actually be encouraged to hide it That's absolutely the worst thing that can happen in a large organization So you just need to get the balance right holding me accountable holding senior people. Absolutely. We're on the hook But I think further through the organization. We've just got to be very careful that we don't have unintended consequences There's quite an understandable demand from the community at large to that Organizations such as us not only do the right thing but a scene to do the right thing and therefore holding executives to account and Making sure that we improve processes and being very transparent about it is a critical part of that And we have to do a better job of it I don't think that we've lived up to the standard that we should in terms of explaining What accountability actions have been taken place whether that is maybe some people lose their jobs Maybe people have their compensation impacted. Maybe people have their promotion prospects changed There's a range of things that fall into accountability and we can do a much better job of making that transparent We committed to in the recent Australian parliamentary inquiry to support those changes and be public in terms of when we when we make a Mistake when we have a breach Making sure it's transparent who's accountable and what we as an organization are going to do about it