There is a lot to talk about and a number of areas to be clarified. I trust that by the end of our meeting over the next two days, we will be closer to fine-tuning our road map for the implementation of Basel II. The panelists you will hear over the next two days will take us a long way toward our goal.
The level of structural productivity does not recede, of course, since once gained new technological insights are never lost, but its rate of increase would slow, and projections of long-term profits growth presumably regress back to earlier magnitudes. From any perspective, of course, a tapering-off in productivity acceleration is inevitable at some point in the future.