Sure.
Thanks for your question. I'm glad you raised it.
We've been saying since day one on the FATCA issue that ultimately what this is, is an issue of state. It has to be addressed from a state-to-state level through information exchanged between states. You can't try to enforce a relationship on financial institutions in one country reporting to a tax authority in another. So since day one our view has been that this is ultimately a matter that has to be resolved on a state-to-state level through information exchange. And ultimately it does seem to be going that way through the intergovernmental agreements that are being created.