Mr. Aidan Carrigan:

I mentioned earlier that the Liikanen report looked at the structure of the banking sector and how large banking entities - the investment element - have been taking large risks, using the benefit of the safer deposit side to fund those risks. There is a definite view at a European level that there needs to be a separation of those high-risk activities from the more secure deposit and lending activities.

The nature of that separation - whether it will be a physical separation or a separation within the entity in relation to capital requirements, buffers, risk controls and so on - has yet to be determined. The Commission will bring forward a proposal on that specific issue later this year.