But you know that we are working hard here, amongst others through the BCBS Accord Implementation Group and the Core Principles Liaison Group. In the end such effort will as a result also entail new challenges for the banks themselves.
In that case, if the expected productivity boom does not subsequently materialize, asset prices will fall. The end result in this case would not be termed the bursting of a bubble. Nonetheless, this case may be indistinguishable from such an experience: Among other common elements, one could also see an investment overhang in the sector that saw its asset prices rise and subsequently fall.