Loan file reviews, valuations and data integrity validation take considerable time and require a very specific skill set. And it takes time away from our other activities, be they supervisory, regulatory or business as usual. For this reason, many competent authorities have appointed third parties to aid in the delivery of the asset quality review. We are no different.
The twenty or so U.S. banks that we expect to operate in the near future under Basel II - the ten mandatory core banks and the ten banks choosing Basel II account today for 99 percent of U.S. bank foreign assets and two-thirds of total domestic consolidated assets of all U.S. banking organizations.