And here I come to the preparation of the “post-FSAP strategy” that will soon be formally initiated when the European Commission issues its Green Paper for public consultation. A promising framework has been established through the completed FSAP measures. And I clearly see the post-FSAP period as a “window of opportunity” for further enhancing financial integration.
Given that we provided the full text of the Code to the market only last month, there will be a period of time for market participants to adjust their practices where necessary to be in line with the principles in the Code. I would not expect much time should be required to do this.