Mr. David Duffy:

I would put it very simply. We run the bank on a commercial basis at arm's length from the shareholder. The decisions on cost and pricing are ours and nobody else's. The cost of risk is an input, but it is an observed input in the marketplace. When we examined the three cost elements mentioned and, therefore, the pricing of our products, we made the decisions. Where we have seen improvements in the three cost elements, we have passed them on to our customers. That is exactly how the model works.