Ladies and gentlemen, Dr Gerlach, I would like to conclude my remarks with one last quote from Grönemeyer’s song dedicated to Bochum. In its last line he sings “Glück auf", which roughly translates as “Good fortune!". And on behalf of the Executive Board of the Deutsche Bundesbank, it is good fortune that I wish you, Dr Gerlach, now and in all your future endeavours.
1 Dombret, Gündüz, Rocholl (2017): "Will German banks earn their cost of capital? ", Deutsche Bundesbank  Discussion Paper No 01/2017. 2 Consultation paper: Joint ESMA and EBA guidelines on the assessment of the suitability of members of the  management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU of 28 October 2016 (EBA/CP/2016/17).