Just take the output floor, which is having a clear impact on a number of larger institutions running riskier business models. That said, the necessary adjustments are doable, and they’re warranted, too, in light of these institutions’ risk profiles.
And for many institutions, the additional capital requirements introduced by the reforms are in any case on the low side – for smaller and medium-sized banks they come to 5.7% on average. Some institutions will even see their capital requirements decline. Let’s turn to the third topic that will pass.