Nonetheless, it is what I expect of my teams, and it is what I expect of the firms that we supervise, whether they are focused on the domestic economy or internationally focused. In the 10 years since the onset of the financial crisis, multiple reforms have sought to address the root causes of the crisis and other issues.
Indeed, there continues to be reforms of the reforms, and regulatory reform packages have started to sound like extended movie franchises. While not yet reaching the number of iterations as the Fast & the Furious franchise, we are still embedding recent changes such as Solvency II, and implementing further changes, notably MiFID II2 and PSD 23. We are close to agreement on Basel III.