Finance committee  I think what you are seeing in the world of corporate pension investment management is exactly that kind of behaviour. What we're seeing is a trend towards liability-driven investing. That is, companies voluntarily take on strategies that strengthen the financial soundness of the

Finance committee  The important distinction is that the other ideas you suggested are more about ongoing cashflow obligations. That is obviously one of the considerations if I'm going to lend a company money. Are they going to be able to repay their debt on an ongoing basis? I evaluate the probabi

Finance committee  You have to evaluate the trade-off. That's exactly what the credit analysis consists of. It evaluates that trade-off. So the answer is that you can't determine it in general. It's an answer that would depend on the circumstances of the company and on the amounts you're talking ab

Finance committee  Absolutely. Yes.

Finance committee  The big question about the impact on the capital markets is to get away from thinking about it as the impact on average and the impact under normal circumstances. It's very difficult to assess what the impact would be immediately if this were to be done. If any study purports to