We have worked alongside the private sector to improve the safety and efficiency of clearing, payment, and settlement systems. For example, we've recently worked with various groups to make sure that participants are continuing to pursue more robust business-continuity plans, especially from a system-wide perspective.
The parallel run period, which is intended to last for four continuous quarters, should provide us with additional key information about the expected results for Basel II on a bank-by-bank basis, as well as the level of bank preparedness to operate under Basel II.