The key downside risk is a global recession. If global banking stress re-emerges, credit conditions could tighten significantly, resulting in a more severe global slowdown and much lower commodity prices. Overall, we view the risks around our inflation forecast to be roughly balanced, but with inflation still well above our target, we continue to be more concerned about the upside risks. Let me conclude.
Thus, the existing risk-weighted standards have now been joined by the leverage ratio, and there are also two new liquidity ratios, capital buffers, loss-absorbing capital and individual capital add-ons under the supervisory review and evaluation process (SREP).