Work is under way to present the governance structures for the subsequent implementation and operational phases. Replies from market participants are coming-in contributing to the assessment of costs-benefits and economical impact of T2S on the industry. I can assure you that we will carefully weigh all the economic factors, the legal aspects and the risks involved.
We've previously seen some imaginative calculations of what the output floor will cost in Denmark's GDP accounts. Let me first stress that capital is not an expense. It's a source of funding of a bank's activities that can cushion a bank before the crisis hits.