I'm also not an economist, and this is outside my normal focus, but I do recall that during the depths of the financial crisis in the United States, when banks were being bailed out or banks were acquiring other banks, there was a moment in which liquidity within the banking system almost seized up. There was so much unrecorded risk held offshore by some of these institutions that when they were being bailed out or acquired, it was just a completely opaque system. The bank doing the acquiring was completely unaware of what the risks...[Technical difficulty--Editor]...the bank they were buying out.
I think that in itself can probably influence a lot of decision-making on what should be allowed in the future in terms of offshore holdings by major financial institutions and how transparent those holdings are to the public and to regulators.