Jack Reed actually said...

We do not have any legal obligation. It is not a treaty.

And that is something that we have had in the United States, but this is a new aspect for Basel III for the whole community.

One of the flaws with Basel II was that there was a great deal of reliance on internal risk models, that banks were essentially grading them...

I think, again, just to say, this is an issue that will not go away.