Thank you very much, Mr. Chairman.
Thank you all for coming in today.
I want to address my questions to you, Mr. van Duynhoven, because you've provided some documentation that I think is helpful here. What I really want to do is to drill down to try to understand all of the fees that are being charged to merchants.
First of all, you have the Visa corporate, commercial, and business card transaction fee, which, if I'm reading this correctly, increased, according to this letter of February 2008. You have a Visa Infinite card transaction fee, which is a new fee. Then you have a Visa assessment fee, which seems to be a new fee as well. And then you have the merchant discount rate, which, interestingly, actually decreases, according to the documentation here.
The merchant discount rate includes, according to the information we have, the interchange fee plus other costs. What proportion of the merchant discount rate is the interchange fee?