And fourth, as a result of all this, we want to confirm that capital requirements are indeed adequate. So, once we have finalised TRIM, and once the banks have addressed all potential findings, capital requirements will be calculated in a more consistent way across institutions. That said, it will take us a while to finalise TRIM. As I mentioned, it is a huge project.
The outlook for home sales and construction will also depend on unfolding developments in mortgage markets. A substantial increase in lending to nonprime borrowers contributed to the bulge in residential investment in 2004 and 2005, and the tightening of credit conditions for these borrowers likely accounts for some of the continued softening in demand we have seen this year.