So it is important that more countries implement Basel II and that we see how we can improve and update this framework. And we are also strongly encouraging the private sector to improve its risk management. So everything is left to the behaviour of the private sector? Trichet: Certainly not.
Surveillance authorities have to be as alert as possible, as recommended in the Financial Stability Forum (FSF) report. And we have to update and improve regulation. I also welcome the work which has been done by the private sector. It seems fair to me to give the financial institutions a chance to work out good practices and benchmark principles for their own voluntary behaviour.