The role of tiering is to basically strike a balance, where the ability of banks to sustain credit is what we care about, we don’t take a direct view about what’s in the interests of bank shareholders, that’s not our concern. Our concern is whether there are risks to the credit transmission channel.
By tiering, by providing some relief in terms of the net income effects of our policy moves, we think it gives protection against any risk to the credit transition channel. It’s not the case that it’s a situation about making a call about what type of depositors should be protected.