We continue to see activity on off-lease registration on 2-Reg, the Guernsey Aircraft registry. There has been no slowdown, and we are expecting the work to continue to flow in 2022. 2-REG is developing its offering for private operation of corporate jets, and we expect that to continue to develop throughout 2022 - they clearly see a market to be tapped there. This is an area that potentially could be impacted by developments with the Global Pandemic, so questions about where new variants are coming from, how quickly they spread, and how different governments respond will all be key. There has been a steady flow of shipping finance instructions involving Asian assets and lenders - our most recent deal was typical of the kinds of maritime finance instructions we see, with the financing of 13 new container ships being leased out in a bareboat charter arrangement.

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