Indeed it may be necessary for us to encourage commercial banks to train their staff simultaneously, if we are to be properly equipped. Basel II is not, however, for all banks. We will be issuing guidelines to the smaller banks in the international financial services sector in this regard.
At present, the trend of increased corporate profits has been maintained, and there seems to be few signs of adverse effect on the real economy. Needless to say, however, we remain watchful of stock market developments and their potential ramifications.