It is noteworthy that the volume of paper-based clearing we handle is the sixth largest in the world and during the year April 2007 to March 2008 about 1.46 billion cheques were cleared in the country.
Clearly, the area of private equity is one where we need a greater degree of analysis to inform our judgment about the financial stability issues arising, and I am very pleased to see that you have quite a significant degree of empirical research being presented here on an extensive range of issues in the private equity arena.