I can answer this question. I'm Nicolas Moreau. I'm the General Director of the Funds Management Division. It's a very good question. Thank you.
We will have a larger share in the two-, three-, and five-year sectors. This is strictly by construction. As you know, when we issue a two-year bonds in order to have about the same amount for 10 years, we need to do five times more two-year than 10-year bonds. When you look at the overall structure of our debt right now, we have about 40% that have been issued in the 10-year and 30-year sectors. For the rest of the debt, it's about 40% in a two-year to five-year sector and 20% in T-Bills.
For this year, we will increase our T-Bill issuance, because last year we were surprised on the upside with revenues, which have resulted in a lower financial requirement. When we do our adjustments, we always do our adjustments on the T-Bill sector. Since we want to be as transparent as possible for the market in terms of bond programs, we always adjust on the more liquid secto, the T-Bill, and we leave the rest of the bond program unadjusted for the year. Therefore, for this year in terms of proportion, we'll keep our share of 20-40-40 about constant, relative to last year.