And that all at the same time. This is not Basel 3, this is Basel to the power of 3. So whatever we do, we'd better start by ordering a couple of very big meeting tables. Or, in the spirit of this conference, tick the large gallery view. So how to proceed? Let's look at regulation first.
As we have seen, both platforms and new technologies do not operate exclusively in the financial sector, but do play an increasingly important role there. I think we should therefore recognize that horizontal regulation is often the best way to regulate them. For instance, the European Services Act and Digital Markets Act are important tools for regulating platforms.