Now to Volcker and shadow banking.
On Volcker, we have made our concerns known to the Secretary of the Treasury and the chairman of the Federal Reserve. Obviously we respect absolutely the sovereign right of the United States or any country to regulate their financial affairs within their country, but it's the extraterritorial impact of Volcker that concerns us. That happens from time to time. Our basic concern is the structure of the rule—and I won't go into detail—and the distinction between market-making and proprietary trading, which we don't see as a workable definition.
I'd note in passing that there were 17,000 comments on this rule, and that it recently was announced, last week in fact, that implementation would be delayed by two years as they work through these comments. And we do have faith in the U.S. system to address any deficiencies that are found there.
On shadow banking.... Are you out of time?