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Banks are obviously faced with solving a complex equation: i) maintaining a positive contribution to net income from financial services and retail banking as risk-related costs rise, ii) controlling the risk profile of corporate and investment banking activities, while maintaining a good profitability level, iii) coping with the impact of the aftershocks of the crisis on banks’ balance sheets. In this regard, let me stress liquidity management, as market conditions remain tense, with the attendant consequences for management of hedging transactions more generally. On this last point, I should add that their diversified business model means that French banks are not among the most dependent on market financing. Therefore, the leading French banking groups were able to manage their liquidity needs effectively, even during the periods of greatest tension on the markets. Yet, the tightening-up of access to liquidity in the wake of the crisis did show how critical risk management has become. 3. As crisis conditions persist, I should like to talk about the main thrusts of the supervisory authorities’ actions. We have always maintained that the practical implementation of the new Basel II solvency ratio would primarily ensure that banks measure their risks more accurately both in ordinary times as well as during crises. The new Basel II framework has been a reality in France since the beginning of the year. It is noteworthy that a large proportion of French banks use “internal-ratings based” approaches to credit risk.