A first step in this direction will be the Balance Sheet Assessment under the auspices of the ECB. It is important to conduct this exercise in an impartial and unprejudiced manner.
It is also useful to point out that all Basel member countries have their own rollout timelines and national discretion issues, not just the United States--which is entirely appropriate. In order to assist institutions in resolving their cross-border challenges, we are eager to hear specifics from institutions so that we can develop targeted solutions.