We should reach a globally accepted definition of capital. The Basel Committee and the FSB are working so that the timing chosen for the implementation of the new rules do not prejudge economic recovery. Handelsblatt: Are you confident that we will have a globally coordinated regulation? Lately we have seen a lot of tension between the EU and the US.
We hope such progress will continue -- through the Australian Payments Clearing Association and other industry-based bodies. Only where payments arrangements fall short of our efficiency and safety benchmarks -- and there are no serious attempts by the industry to rectify that position reasonably quickly -- will we embark on the path of prescriptive regulation.