In my opinion, however, under this approach, too, a bank’s choice of a capital commitment and the quality of its risk management system still need to be subject to supervisory review. And there are a number of other issues that are as yet unsolved, e.g.
the comparability across firms as the choice of the pre-commitment is subjective, the role of public disclosure and the supervisory penalties, which are critical to the viability of the approach. For these reasons, international supervisors await with interest the results of the New York Clearing House pilot study. Other risks 14. Now, let me turn to the other risks.