To conclude this address that has already been rather too lengthy, I should just like to remove any ambiguity that may have arisen from the discussions that have intensified with the crisis. I do not think that it is in anyone's interest in the current period to weaken accounting conventions. Accurate, rigorous and fully transparent financial statements are the bedrock of financial activity. The aim of the work and discussions that have been actively pursued over the last few months and that will continue in the coming period is in fact both a modest and a difficult one. It is to ensure that accounting conventions fully reflect the reality of financial activities and are not overambitious. This undoubtedly means reviewing the role of fair value in the accounting treatment of financial instruments. Thank you for your attention. BIS Review 160/2008  3
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