We are, as I said, at the end of the beginning. Finally, when we published our previous FSR in early December last year, I spoke about our key areas of focus going into 2020 from a macro-prudential perspective, and how we were developing our approach to building additional resilience, covering banks, borrowers and nonbanks.
I think that the example I mentioned earlier of the troubles of Korea's credit card companies shows the vital importance of banks' soundness. Even though most credit card companies faced a serious weakening of their balance sheets, we were able to avoid a severe credit crunch thanks to the fact that banks' profitability and capital adequacy were, by then, much higher than in 1997.