On balance, we have conservatively reduced the risk provision by € billion to € billion. However, I’d like to highlight another particular feature of these annual accounts, because, for the first time since 2014, our total assets fell again somewhat last year. On the assets side, this decline in total assets was mainly driven by return flows of liquidity to other European countries.
1/4  BIS central bankers' speeches  Overall, we are becoming more confident that inflation will eventually head to levels in line with our inflation aim, but we also know that a very substantial degree of monetary accommodation is still needed for the upward inflation path to materialise. Moreover, we still see some uncertainties with respect to the medium-term inflation outlook.