Let me start with actions to improve incentives. Under the umbrella of the FSF, and in a collaborative effort of national and international regulatory and supervisory authorities, we urged prompt implementation of Basel II, which will align capital requirements more closely to banks’ risks (and I will have more to say about this in a moment).
They operate  BIS Review 64/2009  3  here. If we all do well, we all benefit, if we go down, let’s all go down together. I do not like some sections to take advantage of the situation. That is my sole reason to introduce the policy, which is very unprecedented.