Overall, I consider that our agreement strikes the right balance between the objective of a very significant strengthening of the resilience of the financial sector while not endangering the progressive consolidation of the recovery, thanks to an appropriate transition period.
Also to be noted is that these standards are global minimum standards: national regulators or supervisors can set tougher standards if they deem that appropriate. On your last point I will say that it is imperative that we make as sure as possible that a new crisis of that dimension would not erupt again.